The Maran Lyra, a VLCC, is due in Norway today with what broker Braemar describes as an “unusual” cargo.
The ship will discharge Nigerian crude at Mongstad, north of Bergen where Equinor has a refinery. It is the second vessel to carry Nigerian crude to Mongstad this month, following on from the Atlantic suezmax.
“Norway rarely imports crude. When it does most of which comes from the United States. These cargoes mark the largest import of West African crude into Norway ever, and the highest monthly crude oil import for Norway since February 2023,” Braemar explained in a tanker update.
The mid-May trading cycle saw Norway’s Johan Sverdrup crude price above Brent, whilst Nigerian crude dropped in price due to excess supplies, hence the decision to import the African oil.