W. Africa Crude-Nigerian market struggles with unsold cargoes

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 LONDON, May 22 (Reuters) - Nigerian grades continued to
struggle on Tuesday, weighed down by a surplus of unsold
June-loading cargoes as the July programmes emerged, while
Angola's Sonangol was said to have almost sold out of crude for
next month. NIGERIA * Some 20 cargoes remain from the June loading programme,
out of a total of 60 and down from closer to 30 a week ago. * July programmes are starting to emerge, with Qua Iboe,
Forcados and Bonga along with a few smaller grades, traders
said, adding that this constituted "huge volume" for the market
to digest. * Shipments of Bonny Light are still halted. Operator Royal
Dutch Shell declared force majeure late last week after
a problem on the Nembe Creek trunk line. * A separate shutdown of the Trans Forcados Pipeline since
last week has forced a number of June-loading cargoes of this
grade to be delayed to July. ANGOLA * Sonangol has virtually sold out of cargoes from the
43-strong June programme after selling one of two remaining
cargoes of Dalia, trading sources said. * Total was said to have sold a cargo of Girassol at what
was believed to be at a discount to dated Brent. TENDERS * Taiwan's CPC is seeking light sweet crude for August
delivery. The tender closes May 23. * Thailand's PTT is looking to buy between 300,000 and 1
million barrels of light sweet crude for delivery between
mid-July and mid-August. * Taiwan's Formosa bought 1 million barrels of Oman crude
for July delivery, while Korea's KOGAS sold to Unipec 1 million
barrels of Basra Light for July delivery. * Indonesia's Pertamina is running a tender to buy crude for
either Aug. 1-10, Aug. 16-20 or early September delivery. The
tender closes on Monday. * India's HPCL is running a tender to buy 6 million barrels
of crude for delivery July 1-15 or Aug. 1-10. The tender closes
on May 23. UPCOMING FIXTURES Charterer Vessel Cargo Grade Discharge Laycan Size Zone Statoil NORDIC MOON Suez Bonga UK 24-May-18 Offshore Continent Terminal NPI XIN WEI YANG VLCC DJENO China 24-May-18 UNIPEC GENER8 VLCC CABINDA China 24-May-18 OCEANUS ST VOYAGER Suez US 23-May-18 Atlantic Coast Pertamina DEMETRIOS Suez Indonesia 22-May-18 BP NORDIC CROSS Suez US Gulf 22-May-18 BP DIMITRIS P Suez CABINDA US Gulf 22-May-18 BP FRONT PRINCE VLCC CABINDA EU 22-May-18 (Reporting by Amanda Cooper
Editing by David Goodman) ))
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