Floating oil storage off China's Shandong rises as tanks full - sources, data

    * Most crude tankers float for less than a week - data
    * Half of fuel oil tankers are carrying bitumen mixture - trader

    By Florence Tan
    SINGAPORE, May 17 (Reuters) - More than 20 tankers carrying crude and fuel oil are anchored
off the ports of China's eastern Shandong province, as onshore storage tanks are full, according
to trade sources and shipping data on Thomson Reuters Eikon.
    Frenzied buying by independent refiners, most of whom are located in Shandong, and trading
companies seeking to re-sell crude to these refineries have filled up tanks, they said.
    "Oil inventories at storage tanks are very high," a China-based trader said.
    Most of the tankers that are carrying crude have been floating off Shandong for less than a
week although tanker Seaways Portland, which has Russian ESPO crude onboard, has been in the
area for two months, the data showed.
    The ESPO cargo has already been sold to a Chinese trader, a Singapore-based trader who
tracks the oil flows said.
    Crude grades onboard ships include Australia's Pyrenees and Vincent, Russian Urals,
Brazilian Saphinoa and West African crude, according to the data.
    Most of the crude are aimed at meeting demand from Chinese independent refiners as they are
expected to receive a second batch of import quotas from Beijing in end-May or early June,
traders said.
    At least three of the six fuel oil tankers are carrying bitumen mixture, the second trader
said, as traders prepare to sell more of the residue oil into China before a proposed
consumption tax kicks in.
 Name                Charterer     Oil/grade    No. of days  Destination          Max     AIS
                                                floating as                       Draft   Draft
                                                of May 16                         (m)     (m)
 SOPHIE SCHULTE      NA            Crude-ESPO             3  DONGJIAKOU            14.83    13.8
 TIAN LONG ZUO       NA            NA                     2  LAN SHAN              14.69    11.5
 COSGRAND LAKE       NA            Crude-WAF              1  RIZHAO CHINA          21.52    19.8
 DAN                 NA            Crude-Irani            0  QINGDAO CHINA         22.52    19.9
 MARINA M            Unipec        Crude-WAF              1  QINGDAO CHINA         22.72    15.3
 DS VECTOR           NA            NA           1.5 months   QINGDAO,CHINA         22.02    20.8
 FRONT PAGE          PetroIneos    Crude-Urals           10  QINGDAO               21.52    20.2
 SUEZ HANS           ST Shipping   Crude-WAF              1  QINGDAO              17.171    16.2
 SAN SABA            Mercuria      Crude-Urals            5  QINGDAO               17.17    16.6
 SEA HYMN            SK Energy     Crude-ESPO            15  QINGDAO               15.02    13.8
 DHT SOPHIE          Unipec        Pyrenees               4  QINGDAO CHINA        14.918      12
 PORT STANLEY        PTT           Crude                  5  QINGDAO              12.157      10
 SEAWAYS PORTLAND    Vitol         Crude-ESPO   2 months     LONGKOU CHINA        14.618    13.7
 YANG LIN WAN        NA            NA                    12  LONG KOU              15.45    12.3
 YAMATO SPIRIT       Vitol         Vincent                6  LONGKOU,CHINA        14.578    12.6
 BEI HAI ZHAN WANG   NA            NA                     3  LAI ZHOU               13.5      12
 OVERSEAS SILVERMAR  NA            Crude                  3  DONGYING CHINA        13.61    10.9
 TUCHKOV BRIDGE      NA            Saphinoa               4  DONGYING CHINA         12.2      12
 CATALAN SEA         Vitol         Fuel oil              16  QINGDAO               15.12    13.8
 RBD ANEMA E CORE    Cargill       Fuel oil               2  QINGDAO CHINA         15.36    13.7
 PACIFIC CAPE        Vitol         Bitumen Mix           10  LONGKUO CHN           15.47    14.3
 SEALOYALTY          Vitol         Fuel oil              19  LONGKOU              14.753    14.3
 RADIANT STAR        ChemChina     Fuel oil               9  LAIZHOU CHINA         14.92    13.6
 CAPE TROY           Lukoil        Fuel oil     1 month      DONGYING,CHINA       14.496    12.7
 Source: Thomson Reuters Eikon

 (Reporting by Florence Tan; Editing by Sherry Jacob-Phillips)