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Two VLCCs Making Surprise Fuel Oil Shipment to Singapore

Amid Venezuela's continuing economic deterioration, and in what has been called a "surprise move," two very large crude carriers (VLCCs) have departed Petróleos de Venezuela, S.A.'s (PDVSA's) Bonaire Terminal fully laden with fuel oil cargoes bound for Singapore, Reuters reports. Data from Thomson Reuters Eikon shows that New Dream and Britanis were each carrying 270,000 tonnes of fuel oil, chartered by PetroChina Company Limited (PetroChina) and Trafigura Beheer BV (Trafigura), respectively. Fuel exports from Venezuela to Singapore are said to have been irregular since the start of the year, although Singapore is noted to have taken delivery of 997,000 tonnes over the past three weeks from Venezuela, with the most recent shipment expected to help ease a tight market. http://shipandbunker.com/news/world/430263-two-vlccs-making-surprise-fuel-oil-shipment-to-singapore