Eastern Siberia Pacific Ocean (ESPO) Crude Oil
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Russia's ESPO Blend is the flagship crude oil supplied via East Siberia Pacific Ocean (ESPO) pipeline to Asian markets, especially China, South Korea, Vietnam. ESPO is supplied via inland pipelines under long-term contracts as well as seaborne volumes on spot basis.

ESPO crude oil comes from from fields at Tomsk Oblast and the Khanty-Mansi Autonomous Okrug in Western Siberia.
 
The existing Omsk-Irkutsk pipeline also links with the ESPO pipeline at Taishet and supplies oil from the provinces of eastern Siberia.
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• Origin : Russia (West Siberia, East Siberia)

• Loading Ports : Vladvostok, Kozmino

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Azeri Light Crude Oil
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Azeri Light is produced offshore Azerbaijan in the Caspian Sea from the Chirag and Central Azeri fields. West Azeri began producing in early 2006, East Azeri in 2007, and Deepwater Guneshli in 2008. Production reached 1MBD in 2010. Cargoes are available ex Supsa and Batumi; the Batumi export route commenced June 2005. Crude exported from Batumi is of same quality as that from Supsa.

• Density @ 15°C (g/cc) 0.8463 ( API Gravity 35.6)

• Total Sulfur (% wt)  0.18 

• Pour Point (°C) -20

• Viscosity @ 20°C (cSt)  9.3

• Viscosity @ 40°C (cSt)  5.3 

• Nickel (ppm)  3.1 

• Vanadium (ppm)  0.9  

• Total Nitrogen (ppm)  1057 

• Total Acid Number (mgKOH/g)  0.48 

• Mercaptan Sulfur (ppm)  6.5

• Hydrogen Sulfide (ppm)  0.0 

• Reid Vapor Pressure (kPa)  35.1

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Supsa Terminal

Located on the Black Sea coast of Georgia, the terminal has a CALM buoy which can accommodate up to 150,000 dwt vessels.
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Batumi Terminal

The terminal is located on the Black Sea coast of Georgia, and crude is typically loaded at the CBM. Standard size cargo is 80,000 MT, but has flexibility of smaller or larger cargoes, subject to terminal agreement. Smaller crude vessels can be loaded at the three other berths in the port complex.​​

Arabia Crude Oil

Saudi Arabia began producing commercial quantities of crude oil in 1938. Since then it has built a reputation for unmatched reliability in supplying crude oil to energy markets around the world. Five different grades of crude oil are produced: Arabian Heavy, Arabian Medium, Arabian Light, Arabian Extra Light, and Arabian Super Light.
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Ras Tanura: Ras Tanura is one of the most important industrial cities in the Eastern Province of Saudi Arabia. It has the largest oil-exporting terminal in the Kingdom and a major oil refinery, which is the oldest in Saudi Arabia.
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• Origin : Saudi Arabia (Ghawar, Qatif, Haradh, Safaniyah)

• Loading Ports : Ras Tanura, Jubail

Masila Crude Oil

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Masila crude oil comes from the Masila Conventional Oil Field in Yemen, which is one of the country's largest oil producing blocks: 

• Location: The Masila Block is in the central part of Yemen, in the Sayun-Masila Basin. 

• Operator: Masila Petroleum Exploration and Production (PetroMasila) is the state-owned operator of the Masila Block. 

• Discovery: Oil was first discovered in the Masila Block in late 1990, and production began in July 1993. 

• Reserves: The Masila Block has total proved ultimate recoverable oil reserves of nearly 900 million STB. 

• Pipeline: The Masila-Ash Shihr Oil Pipeline transports crude oil from the Masila Block to the Ash-Shihr Terminal on the Arabian Sea for storage and export. 

• API gravity: Masila crude has an API gravity of around 34.09. 

• Sulfur content: Masila crude has a sulfur content of 0.51%

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Loading Port: 

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The Ash Shihr Petroleum Export Terminal is operated by the Masila Petroleum Exploration and Production Company (Petro Masila).  
Location:  On the southern coastline of the Republic of Yemen, approx. 285 n.m. ENE of Aden.

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Fuel Oil

 

Bunker fuel is a type of fuel oil used in marine vessels, while fuel oil is a general term for any fuel oil:

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• Bunker fuel

  A term for any fuel used in a ship, but typically refers to fuel oil used in marine vessels. The term comes from the coal bunkers on steam ships, where coal was stored. Bunker fuel is characterized by its viscosity, boiling points, and carbon-chain lengths. There are three types of bunker fuel: Bunker A, Bunker B, and Bunker C. 

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• Heavy fuel oil (HFO) is a type of bunker fuel that's a remnant of the petroleum distillation and cracking process. HFO is often used in marine vessels because it's relatively inexpensive compared to cleaner fuel sources. However, HFO is contaminated with compounds like sulfur, nitrogen, and aromatics, which makes it more polluting than other fuel oils when combusted. HFO is also highly toxic when exposed to sunlight and dissolved in water. 

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A growing number of low sulphur fuel oils (LSFOs) are being marketed as a result of new international rules to reduce the sulphur content of ship fuels. This project aims to strengthen the knowledge base on environmental fate and behaviour of LSFO spills in cold seawater. The project includes laboratory experiments to investigate the effectiveness of combating LSFO spills by in-situ burning and chemical dispersion, and the potential for biodegradation. The results indicated that the LSFOs tested had a limited potential of natural and chemical dispersion, were ignitable and that between 20-50% were biodegraded in cold seawater. Overall, the results indicate that the tested LSFOs likely have a high degree of persistence on the sea surface and shoreline even when chemical dispersion or in-situ burning is attempted.

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High Sulfur Fuel Oil (HSFO) is the bottom of the oil barrel with the lowest priced oil product now that is the alternative to using marine fuels with such low sulphur content. The HSFO have a maximum sulphur content of 3.5%.

Liquefied Natural Gas - LNG

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Liquefied Natural Gas - LNG is a clear, colourless and non-toxic liquid which forms when natural gas is cooled to -162ºC (-260ºF). The cooling process shrinks the volume of the gas 600 times, making it easier and safer to store and ship. In its liquid state, LNG will not ignite.

When LNG reaches its destination, it is turned back into gas at regasification plants. It is then piped to homes, businesses and industries where it is burnt for heat or to generate electricity. LNG is now emerging as a cost-competitive and cleaner transport fuel, especially for shipping and heavy-duty road transport.

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• Product : Liquefied Petroleum Gas

• Categories : Liquefied Gases

• Origin : Qatar, Russia, Nigeria, Oman

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Liquefied natural gas (LNG) vessels, also known as LNG tankers or carriers, are ships designed to transport large quantities of LNG: 

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​LNG vessels are typically around 300 meters long, 43 meters wide, and have a draft of about 12 meters. They have a cargo carrying capacity of 125,000–260,000 cubic meters, with the most popular size being up to 180,000 cubic meters. 

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• Cargo capacity: LNG ships can have a cargo capacity ranging from 1,000 to 267,000 cubic meters, but most modern vessels are between 125,000 and 175,000 cubic meters.  The largest LNG carriers ever built are the Q-max type MOZAH and her sisters, which have a capacity of 266,000 cubic meters.  

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Liquefied natural gas (LNG) is measured in a variety of units, including: 

• Volume: Cubic meters (m3) or cubic feet (cf) 

• Mass: Metric tonnes or million tonnes (MT) 

• Energy: Millions of British thermal units (MMBtu, ​One metric ton of liquefied natural gas (LNG) is equal to 53.57 million British thermal units (MMBtu).  

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 ​The formula for LNG prices can vary depending on the circumstances, but it's often based on a link to oil or gas prices: ​

 

The LNG price is calculated using a formula like  𝑃𝐿𝑁𝐺=𝑎+𝑏*𝑃𝑐𝑟𝑢𝑑𝑒

where

𝑃𝐿𝑁𝐺 is the LNG price and 𝑃𝑐𝑟𝑢𝑑𝑒 is the benchmark crude oil price. The slope (𝑏) and constant term (𝑎) are determined through negotiation.  

Liquefied Petroleum Gas - LPG

 

 

 Liquefied petroleum gas (also called LPG, LP Gas, or autogas) is a mixture of hydrocarbon gases used as a fuel in heating appliances and vehicles, and increasingly replacing chlorofluorocarbons as an aerosol propellant and a refrigerant to reduce damage to the ozone layer.

LPG mixes may be primarily propane, primarily butane, or the more common mixes including both propane and butane, depending on the season. In winter more propane, in summer more butane.  

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LPG Carriers

 

Handy Gas Carriers

Handy Gas Carriers are LPG vessels of about 15 –25,000 cbm. A diverse segment which includes semi-refrigerated, fully-refrigerated and some larger, pressurized ships that carry a wide range of cargoes such as ethylene, petrochemicals, LPG and ammonia on short to medium-haul routes.

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Coasters

The LPG vessels below 15 000 cbm are often referred to as coasters.‍

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Mid-Sizes

These are LPG vessels of about 25,000–50,000 cbm, typically fully refrigerated, carrying ammonia or LPG, on intra-regional routes (e.g. within the Americas or Asia) and medium-haul cross-trades (e.g. in the North Sea and Europe).

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Large Gas Carriers (LGC)

LPG vessels of about 50,000–70,000 cbm, mainly carrying LPG and ammonia between ports limitING the VLGC ships to enter. ‍

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Very Large Gas Carriers (VLGC)

‍LPG vessels in the VLGC segment are about 70,000 cbm or above. Many of these vessels are fully-refrigerated and mainly employed on long-haul trade routes, e.g. from Middle East Gulf (MEG) and the United States to Asia.

In Maritime Optima we have used the cubic capacities of the vessels tanks, to divide the vessels into sub segments.

 

The Saudi Aramco Contract Price (CP) is the international benchmark for LPG prices and is based on four elements: Market sentiment, Spot market assessments, The values of naphtha and crude oil, and The results of three monthly spot sale tenders.  ​The CP is set by an in-house committee of Saudi Aramco's sales and marketing experts and is published on the first business day of each month. It remains fixed for the rest of the month. The CP is expressed in US dollars per metric tonne. It's closely watched by the market and sets a base level for LPG pricing for most markets east of Suez.

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In China, the primary benchmark for LPG pricing is the "Argus CFR Ningbo Index (ANI)," which represents the cost of delivered LPG to the port of Ningbo, and is used by Chinese importers, traders, and international producers to price LPG sales within the country; essentially, the price formula for LPG in China is based on this index, with potential adjustments depending on factors like delivery location and individual negotiations between buyer and seller.  ​The ANI is based on cargoes of 46,000 tons of propane and/or butane that are refrigerated. The assessment is for cargoes that are delivered to destination ports 25–40 days after the assessment date. 

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LPG units

 1 cubic metre = 1.8315 kg of LPG

LGC: 50,000 -70,000 cbm 

VLGC: 70,000 cbm and above 

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Liquefied petroleum gas (LPG), primarily propane, as the primary feedstock for Propane Dehydrogenation (PDH) plants in China, which are rapidly expanding and driving a significant portion of the country's LPG import demand due to their need for large volumes of propane to produce propylene, a key petrochemical used in plastics manufacturing. 

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