Remember that one oil cargo that managed to load when Libya’s Es Sider terminal briefly reopened last month? (MEES, 10 July). The ‘Kriti Bastion’ Aframax was supposed to be heading to Italy, but it has only made it as far as Malta.
For almost four weeks the Kriti Bastion has been floating 25km east of Malta, still loaded with the 730,000 barrels of crude it originally took from Libya. Charterer of the vessel, Vitol, appeared initially set to export the cargo to Eni’s Porto Marghera refinery next to Venice, but if the deal fell through the oil trading giant could be looking to take advantage of rising oil prices and seek arbitrage elsewhere. (CONTINUED - 238 WORDS)