Philippine coast guard authorities are rushing to find out and secure a tanker which sank in rough seas and is now spilling the industrial fuel oil cargo it was carrying. The tanker MT Princess Empress was carrying 800,000 litres (210,000 gallons) of industrial fuel oil and sank off the northeast coast of Mindoro island, Philippines on 28 February.&nbsp;

The oil product tanker was on its journey from Bataan province, near the capital, Manila, to the central province of Iloilo.&nbsp;

The vessel faced an issue with its engine and sank into the sea. After the tanker sank, a spillage was spotted by the coast guard and was initially thought to be just the malfunctioned engine's diesel fuel.&nbsp;

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However, after conducting a test of the water samples, the authorities confirmed on Thursday that it was in fact some spillage&nbsp;of the industrial oil cargo the tanker was carrying.&nbsp;The industrial oil leakage was spotted off Oriental Mindoro province.&nbsp;

By Wednesday, the coast guard said that a spill had spread in an area of over 24sq km (9 square miles). &nbsp;

However, anything certain could not be said about the extent of the spillage. Philippines Coast Guard spokesperson Rear Admiral Armand Balilo, as quoted by media portals, said, “A ship’s structural integrity may be compromised during the sinking, and it may develop a hole through which oil will leak under pressure."&nbsp;

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It is becoming difficult for the divers to reach the tanker as the vessel sank into over 400 metres deep (1,300 feet) seas, he said. Balilo added that the cargo was not sealed and was loaded directly into the tanker. Oriental Mindoro provincial Governor Humerlito Dolor said that a search is underway.&nbsp;

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The coast guards are using oil spill booms to contain the oil spillage. The areas where the oil spillage is spotted include Verde Island Passage, a marine ecosystem that provides food and livelihood to millions of people. Environmental groups are expressing concerns that the oil spill could potentially endanger protected 21 marine protected areas.&nbsp;&nbsp;&nbsp;&nbsp; 
 
(With inputs from agencies)

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Philippine coast guard authorities are rushing to find out and secure a tanker which sank in rough seas and is now spilling the industrial fuel oil cargo it was carrying.

Philippine coast guard authorities are rushing to find out and secure a tanker which sank in rough seas and is now spilling the industrial fuel oil cargo it was carrying. The tanker MT Princess Empress was carrying 800,000 litres (210,000 gallons) of industrial fuel oil and sank off the northeast coast of Mindoro island, Philippines on 28 February. The oil product tanker was on its journey from Bataan province, near the capital, Manila, to the central province of Iloilo. The vessel faced an issue with its engine and sank into the sea. After the tanker sank, a spillage was spotted by the coast guard and was initially thought to be just the malfunctioned engine's diesel fuel. Also Read | Russia, China lambast West for blackmailing, attempting to interfere in other countries' internal affairs However, after conducting a test of the water samples, the authorities confirmed on Thursday that it was in fact some spillage of the industrial oil cargo the tanker was carrying. The industrial oil leakage was spotted off Oriental Mindoro province. By Wednesday, the coast guard said that a spill had spread in an area of over 24sq km (9 square miles). However, anything certain could not be said about the extent of the spillage. Philippines Coast Guard spokesperson Rear Admiral Armand Balilo, as quoted by media portals, said, “A ship’s structural integrity may be compromised during the sinking, and it may develop a hole through which oil will leak under pressure." Also Read | US Senate clears bill to declassify all information on Covid-19 origin It is becoming difficult for the divers to reach the tanker as the vessel sank into over 400 metres deep (1,300 feet) seas, he said. Balilo added that the cargo was not sealed and was loaded directly into the tanker. Oriental Mindoro provincial Governor Humerlito Dolor said that a search is underway. Watch | Israeli Protesters Confront Benjamin Netanyahu's Wife Outside Tel Aviv Hair Salon The coast guards are using oil spill booms to contain the oil spillage. The areas where the oil spillage is spotted include Verde Island Passage, a marine ecosystem that provides food and livelihood to millions of people. Environmental groups are expressing concerns that the oil spill could potentially endanger protected 21 marine protected areas. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Philippines dispatches resources to contain oil spillage from sunken tanker 'Princess Empress'

The volume of U.S. crude oil arriving in Asia is expected to hit a new high in July as Asian refiners sought arbitrage supplies to replace Middle Eastern crude after prices for Gulf grades rose, traders said on Wednesday.

U.S. crude arriving in Asia hit an all-time high of close to 25 million barrels in May with cargoes discharging in China, South&nbspKorea, Singapore, India and Malaysia, according to trade flows data on Eikon.

The volume dips to about 19 million barrels in June, but is set to rebound again in July after U.S. crude futures slipped to the widest discount in three years against Brent this week, according to traders and Eikon data.

The drop in U.S. crude prices coincides with rising values for Middle East oil in Asia and has opened the arbitrage window, traders said.

Close to 10 supertankers, each carrying 2 million barrels of crude, have been lined up to load oil in the U.S. Gulf Coast for Asia, two of the traders said. These are expected to arrive in July, they said.

"WTI Midland is coming across," a third trader said, adding that refiners such as JXTG Nippon, SK Energy and Cosmo Oil have bought U.S. crude.

Last week, Indian state-refiner Indian Oil Corp (IOC) bought 3 million barrels of U.S. crude for loading in June.

Some of the popular U.S. grades in Asia such as WTI Midland, Mars and Southern Green Canyon can now compete with Middle East grades such as Murban and Oman in Asia, traders said.

WTI Midland crude delivered to&nbspNorth&nbspAsia are priced at a premium of close to $5 a barrel to Dubai quotes, comparable with Abu Dhabi's Murban, while Mars crude cargoes are being offered at $1.50 a barrel above Dubai quotes, competitive with Oman, they said.

Light sweet WTI Midland comes from the Permian basin, a region which was a key contributor to record shale oil production in June. The grade's cash discount hit the lowest in four years earlier this month.

"The value for Midland is better than Murban for cargoes landing in China," a trader with a Chinese company said, adding that the influx of U.S. oil supplies may put some downward pressure on Middle East crude prices.

The Middle East crude market has been underpinned by supply cuts by the Organization of the Petroleum Exporting Countries, peak summer demand and as fears of disruption in Iranian supplies after the United States withdrew from a global nuclear pact fueled sentiment.

U.S. crude arriving in Asia hit an all-time high of close to 25 million barrels in May with cargoes discharging in China, South Korea, Singapore, India and Malaysia, according to trade flows data on Eikon

The volume of U.S. crude oil arriving in Asia is expected to hit a new high in July as Asian refiners sought arbitrage supplies to replace Middle Eastern crude after prices for Gulf grades rose, traders said on Wednesday. U.S. crude arriving in Asia hit an all-time high of close to 25 million barrels in May with cargoes discharging in China, South&nbspKorea, Singapore, India and Malaysia, according to trade flows data on Eikon. The volume dips to about 19 million barrels in June, but is set to rebound again in July after U.S. crude futures slipped to the widest discount in three years against Brent this week, according to traders and Eikon data. The drop in U.S. crude prices coincides with rising values for Middle East oil in Asia and has opened the arbitrage window, traders said. Close to 10 supertankers, each carrying 2 million barrels of crude, have been lined up to load oil in the U.S. Gulf Coast for Asia, two of the traders said. These are expected to arrive in July, they said. "WTI Midland is coming across," a third trader said, adding that refiners such as JXTG Nippon, SK Energy and Cosmo Oil have bought U.S. crude. Last week, Indian state-refiner Indian Oil Corp (IOC) bought 3 million barrels of U.S. crude for loading in June. Some of the popular U.S. grades in Asia such as WTI Midland, Mars and Southern Green Canyon can now compete with Middle East grades such as Murban and Oman in Asia, traders said. WTI Midland crude delivered to&nbspNorth&nbspAsia are priced at a premium of close to $5 a barrel to Dubai quotes, comparable with Abu Dhabi's Murban, while Mars crude cargoes are being offered at $1.50 a barrel above Dubai quotes, competitive with Oman, they said. Light sweet WTI Midland comes from the Permian basin, a region which was a key contributor to record shale oil production in June. The grade's cash discount hit the lowest in four years earlier this month. "The value for Midland is better than Murban for cargoes landing in China," a trader with a Chinese company said, adding that the influx of U.S. oil supplies may put some downward pressure on Middle East crude prices. The Middle East crude market has been underpinned by supply cuts by the Organization of the Petroleum Exporting Countries, peak summer demand and as fears of disruption in Iranian supplies after the United States withdrew from a global nuclear pact fueled sentiment.

US oil shipments to Asia may hit new high in July, cool Mideast crude prices

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