A halt of exports at Shell’s Forcados crude terminal in Nigeria is hurting suezmax tanker rates out of West Africa.
The resulting output cut has helped push spot rates on the benchmark TD20 route to their lowest level since September, according to data from the Baltic Exchange.
The Shell Petroleum Development Co of Nigeria (SPDC) declared force majeure on output from the terminal on Sunday as it works to deal with a spill on its subsea crude pipeline.
Reports
