Big oil tanker backlog builds up at Iraq's Basra port

Singapore

A BACKLOG of over 30 oil tankers has built up outside the Iraqi port of Basra and shippers face lengthy delays of up to three weeks to load oil because of bad weather and possible oil quality issues, shipping industry sources said.

The problems could delay or limit the number of oil export cargoes from Basra in April, potentially pushing down tanker freight rates, two Singapore ship brokers familiar with the issue said.

More than 30 oil tankers, two-thirds of them supertankers (VLCCs), with a combined capacity of around 50 million barrels are currently lying outs…