Algerian Top Crude 25.4 0.31 Algeria Saharan Blend 44 0.09 Algeria Zarzaitine 43 0.07 Algeria Cabinda 32.5 0.11 Angola Girassol 31.6 0.32 Angola Kuito 19 0.68 Angola Malongo 34.8 0.11 Angola Nemba 38.7 0.19 Angola Palanca 37.2 0.18 Angola Quenquela 31.1 0.94 Angola Soyo Blend 33.5 0.14 Angola Takula 32.9 0.11 Angola Xikomba 34.83 0.39 Angola Benin 22.7 0.38 Benin Kole 31.7 0.37 Cameroon Kole Marine 34 0.33 Cameroon Lokele 20.7 0.46 Cameroon Doba 20.4 0.16 Chad Coco 31.6 0.12 Congo Kitina 38.7 0.10 Congo N'Kossa 43.4 0.06 Congo Djeno Blend 27.6 0.23 Congo Emeraude 23.6 0.60 Congo Belayim 27.5 2.20 Egypt East Zeit Mix 39 0.89 Egypt Gulf of Suez 31.9 1.52 Egypt Ras El Behar 33 1.36 Egypt Ras Gharib 21.5 3.64 Egypt Suez Blend 33 1.85 Egypt Ceiba 28 0.58 Equatorial Guinea Zafiro 32.2 0.24 Equatorial Guinea Gamba 31.4 0.09 Gabon Lucina Marine 39.6 0.05 Gabon Mandji 30.4 1.01 Gabon M'bya 35.6 0.07 Gabon Oguendjo 26.1 0.67 Gabon Rabi 33.4 0.06 Gabon Rabi-Kounga 34.3 0.05 Gabon Tchatamba 44.2 0.26 Gabon Salt Pond 37.4 0.10 Ghana Zafiro 31.5 0.26 Guinea Espoir 32.3 0.34 Ivory Coast Amna 36 0.15 Libya Bouri 25.8 1.83 Libya Brega 40.4 0.21 Libya Bu Attifel 43.3 0.04 Libya Buri 26.2 1.76 Libya Es Sider 37 0.45 Libya Sarir 38.4 0.16 Libya Sirtica 41.3 0.45 Libya Zueitina 41.3 0.28 Libya Antan 26.5 0.26 Nigeria Bonny Light 37 0.14 Nigeria Bonny Medium 25.2 0.23 Nigeria Brass River 43.5 0.07 Nigeria Escravos 34.2 0.15 Nigeria Forcados 31 0.14 Nigeria Nigerian Medium 26.5 0.21 Nigeria Oso Condensate 47.4 0.05 Nigeria Pennington 36.6 0.07 Nigeria Qua Iboe 36.4 0.12 Nigeria Nile Blend 32.76 0.05 Sudan Ashtart 29.5 1.31 Tunesia Zaire 31.7 0.13 Zaire 15 25 35 45 55 65 0.0 0.1 1.0 10.0 Sulfur Content API Gravity Africa Australia Far East Middle East Russia / Caspian Sea South / Central America US / Canada UKC / North Sea 25.7 degrees Heavy Crude Sweet Crude Sour Crude Light Crude 0.5% Algerian Condensate API - 63.7 LIGHT Sulfur Content - .04% SWEET Tempa Rossa API - 16.5 - HEAVY Sulfur Content - 6.05 SOUR Intermediate Carriage of Heavy Grade Oil: The new MARPOL regulation 13H on the prevention of oil pollution from oil tankers when carrying heavy grade oil (HGO) bans the carriage of HGO in single-hull tankers of 5,000 tons dwt and above after the date of entry into force of the regulation (April 5, 2005), and in single-hull oil tankers of 600 tons dwt and above but less than 5,000 tons dwt, not later than the anniversary of their delivery date in 2008. HGO includes: an API lower than 25.7 degrees, bitumen, tar, and their emulsions, fule oils with a kinematic viscosity at 50 degrees higher than 180mm2/s. Category 2 and 3 tankers fitted with DB / DS may be able to continue operation up to the ship's 25th anniversary (Certain other exclusions apply - see full text of regulation at www.imo.org). The graph below displays selected types of crude with API displayed on the left hand scale and Sulfur content listed on the bottom logarithmic scale, the corresponding tables for each type of crude follow the graph and are sorted by country. The 13H regulation affects vessels carrying crude with an API gravity below 25.7 degrees, as displayed on the graphs below. Approximately 18% of the total crude used for this report lies below the 25.7 line, in addition the majority of the crude falls between the 30-39 degree range, over half (52%). A large percentage of South American crude is below the 25.7 mark (28%), while only 10% of the Far East Crude below 25.7. Sulfur Content is not an issue in the 13H regulation. Interestingly 4% of sweet crudes, 2% of Intermediate crudes, and 12% of sour crudes are affected by the 13H regulation. IMO 13H MARPOL Regulation - Carriage of Heavy Crude Oil McQuilling Services, LLC Ocean House ~ 1035 Stewart Ave ~ Garden City, NY 11530 Tel: 516.227.5700 ~ Fax: 516.745.6198 ~ Email: services@mcquilling.com ~ Website: www.mcqservices.com 24 207 69 17 2 78 0 50 100 150 200 250 10-19 20-29 30-39 40-49 50-59 60-69 API Range API <25.7 HEAVY CRUDE Page 1 Crude Oil / API / Sulfur Content / Country Australia Middle East South / Central America US / Canada UKC / North Sea Airlie 44.7 0.01 Australia Dubai 31.8 1.91 Dubai Canadon Seco 25.2 0.18 Argentina Alaska North Slope 30.2 1.06 USA (Alaska) Duc 34.6 0.27 Denmark Barrow Island 37.3 0.05 Australia Aboozar (Ardeshir) 26.9 2.48 Iran Escalante 22.8 0.21 Argentina Cook Inlet 35 0.10 USA (Alaska) Tempa Rossa 16.5 6.05 Italy Europa Challis 39.5 0.07 Australia Bahrgansar/Nowruz 27.1 2.45 Iran Hydra 37.5 0.08 Argentina Drift River 35.3 0.09 USA (Alaska) F3FB 54 0.04 Netherland North Sea Cooper Basin 48.1 0.05 Australia Dorrood (Darius) 33.6 2.35 Iran Medanito 35.1 0.43 Argentina Nikiski Terminal 34.6 0.10 USA (Alaska) Angus 40.6 0.25 North Sea Cossack 48.2 0.04 Australia Foroozan (Fereidoon) 31.3 2.50 Iran Neuquen Rio Neg 35.8 0.50 Argentina Hondo Blend 20.8 4.29 USA (California) Auk 37.2 0.45 North Sea Elang 53 0.03 Australia Iranian Heavy 30.9 1.68 Iran Rincon 35.8 0.39 Argentina Hondo Monterey 19.4 4.70 USA (California) Brae 33.6 0.73 North Sea Gippsland 42 0.10 Australia Iranian Light 34.2 1.38 Iran Garoup 30 0.68 Brazil Hondo Sandstone 35.2 0.21 USA (California) Buchan 33.7 0.84 North Sea Griffin 55 0.03 Australia Lavan 33.5 2.01 Iran Marlim 20.6 0.73 Brazil Huntington Beach 20.7 1.38 USA (California) Celtic Sea 44.3 0.6 North Sea Harriet 37.9 0.05 Australia Rostam 35.9 1.55 Iran Sergipano Platforma 38.4 0.19 Brazil Kern River 13.4 1.10 USA (California) Cormorant North 34.9 0.71 North Sea Jabiru 42.3 0.04 Australia Salmon (Sassan) 33.9 1.91 Iran Sergipano Terra 24.1 0.41 Brazil San Joaquin Valley 15.7 1.20 USA (California) Cormorant South 35.7 0.56 North Sea Jackson 43.8 0.03 Australia Sirri 32.1 1.85 Iran Cano Limon 30 0.51 Colombia Thums 17 1.50 USA (California) Dan 30.4 0.34 North Sea Northwest Shelf Condensate 53 0.01 Australia Soroosh (Cyrus) 18.1 3.30 Iran Cusiana 39.5 0.17 Colombia Wilmington 18.6 1.59 USA (California) Dunlin 34.9 0.39 North Sea Saladin 48.2 0.02 Australia Basrah Heavy 24.7 3.50 Iraq Vasconia 24.8 1.06 Colombia West Coast Heavy/WTI Mix 28.1 1.00 USA (Calif-Texas) Fulmar 39.3 0.26 North Sea Skua 41.9 0.06 Australia Basrah Light 33.7 1.95 Iraq Oriente 30 0.88 Ecuador Sunniland 24.9 3.25 USA (Florida) Gorm 33.9 0.23 North Sea Thevenard Island 36 0.05 Australia Basrah Medium 31.1 2.58 Iraq Isthmus 32 1.22 Mexico East Kansas 28.1 0.45 USA (Kansas) Harding 20.8 0.61 North Sea Maui Cond. 59 0.01 New Zealand Kirkuk Blend 36 1.97 Iraq Isthmus (Mexico) 33 1.86 Mexico Bonito 35.3 0.80 USA (Louisiana) Hudson 33.42 1.00 North Sea Mckee Crude Oil 39.5 0.06 New Zealand North Rumaila 33.7 1.98 Iraq Maya 22.1 3.31 Mexico Eugene Island 34 1.00 USA (Louisiana) Hutton 30.5 0.65 North Sea Waihapa 38.8 0.10 New Zealand Kuwait Export 31.4 2.52 Kuwait Olmeca 39.8 0.80 Mexico Grand Isle 34.2 0.35 USA (Louisiana) Magnus 39.3 0.28 North Sea Kubutu 44 0.04 Papua New GuineBurgan 23.3 3.37 Neutral Zone Loreto 18.3 1.31 Peru Heavy Louisiana Sweet 32.5 0.30 USA (Louisiana) Maureen 35.6 0.55 North Sea Kutubu Light 44 0.04 Papua New GuineEocene 18.6 4.55 Neutral Zone Anaco Wax 40.5 0.24 Venezuela Lake Arthur (Hunt Production) 41.9 0.06 USA (Louisiana) Montrose 39.9 0.19 North Sea Far East Hout 32.8 1.91 Neutral Zone Bachaquero 16.8 2.40 Venezuela Light Louisiana Sweet 37 0.30 USA (Louisiana) Murchison 38 0.27 North Sea Brunei Light 40.3 0.05 Brunei Khafji 28.5 2.85 Neutral Zone BCF 17 16.2 2.31 Venezuela Line 63 29 1.02 USA (Louisiana) Piper 35 1.04 North Sea Champion Export 23.9 0.12 Brunei Ratawi 23.5 4.07 Neutral Zone Boscan 10.1 5.50 Venezuela Louisiana Light Sweet 36.1 0.45 USA (Louisiana) Tartan 41.7 0.56 North Sea Seria Light 37 0.06 Brunei Alif 40.3 0.10 North Yemen Ceuto Export 27.8 1.37 Venezuela Main Pass 22.4 2.00 USA (Louisiana) Thistle 37 0.31 North Sea Daqing 32.7 0.10 China Oman 34 0.76 Oman Furrial 28.9 1.04 Venezuela Main Pass 299 23.2 2.17 USA (Louisiana) Argyll 39.1 0.16 North Sea - Scotland Liuhua 21.3 0.21 China Dubai 31.2 2.01 Persian Gulf Guanipa 30.3 0.85 Venezuela Main Pass 299 Sour 22.4 2.22 USA (Louisiana) Danish North Sea 34.5 0.26 North Sea (Denmark) Nanhai Light 40.6 0.06 China Al-Shaheen 29.02 2.20 Qatar Hamaca 26 1.62 Venezuela Main Pass Block 299-PP 22.5 2.26 USA (Louisiana) Aasgard 46 0.13 Norway Shengli 24.2 1.00 China Dukhan (Qatar Land) 40.9 1.27 Qatar La Rosa Medium 25.3 1.73 Venezuela Mars Blend 29.6 1.98 USA (Louisiana) Balder 23.1 0.68 Norway Weizhou 39.7 0.80 China Qatar Marine 36 1.42 Qatar Lago Medio 32.2 1.01 Venezuela Ostrica 32 0.30 USA (Louisiana) Draugen 40.1 0.17 Norway Bombay High 39.2 0.15 India Arab Extra Light (Berri) 37.2 1.15 Saudi Arabia Lago Treco 26.7 1.50 Venezuela South Louisiana 32.8 0.28 USA (Louisiana) Ekofisk 42.1 0.17 Norway Indian Condensate 62.6 0.10 India Arab Heavy (Safaniya) 27.4 2.80 Saudi Arabia Lagotreco 22 2.68 Venezuela Lakehead Sweet 47 0.31 USA (Michigan) Gullfaks "A" 36.6 0.25 Norway Anoa 45.2 0.04 Indonesia Arab Light 33.4 1.77 Saudi Arabia Lagunillas Heavy 17 2.19 Venezuela Baxterville 16.3 3.02 USA (Mississippi) Heidrun 28.1 0.43 Norway Ardjuna 35.1 0.13 Indonesia Arab Medium (Zuluf/Marjan) 31 2.49 Saudi Arabia Leona 24.4 1.51 Venezuela New Mexico Mixed Intermediate 37.6 0.17 USA (New Mexico) Njord 42 0.08 Norway Arimbi 35.5 0.17 Indonesia Berri 36.6 1.39 Saudi Arabia Merey 18 2.28 Venezuela New Mexico Mixed Light 43.3 0.07 USA (New Mexico) Norne 32.5 0.32 Norway Attaka 44.7 0.04 Indonesia Es Sider 36.2 0.49 Syria Mesa 30.1 1.01 Venezuela Ada-Allen 30.3 0.54 USA (Oklahoma) Oseberg 33.7 0.31 Norway Badak 49.5 0.03 Indonesia Soudie 24.9 3.82 Syria Oficina 33.3 0.78 Venezuela Barrett Residual Oil 30.4 0.06 USA (Oklahoma) Oseberg Blend 38.4 0.23 Norway Bekapai 41.2 0.08 Indonesia Syrian Light 35.36 0.76 Syria Pilon 14.1 1.91 Venezuela Basin-Cushing Composite 34 1.95 USA (Oklahoma) Sleipner Cond 59 0.02 Norway Belida 46.2 0.02 Indonesia Abu AL Bu Khoosh 31.6 2.00 UAE Temblador 21 0.83 Venezuela Brooks Station 36.7 0.24 USA (Oklahoma) Snorre 37.5 0.20 Norway Bima 21.1 0.25 Indonesia Abu Dhabi Condensate 57.3 0.20 UAE Tia Juana 102 25.8 1.63 Venezuela Drumright 38.5 0.25 USA (Oklahoma) Statfjord 38.7 0.25 Norway Cinta 32.7 0.11 Indonesia Abu Mubarras 38.1 0.93 UAE Tia Juana Heavy (18) 18.2 2.24 Venezuela Hewitt Healdton 31.3 1.14 USA (Oklahoma) Troll Blend 28.5 0.23 Norway Duri (Sumatran Heavy) 21.3 0.18 Indonesia El Bunduq 38.5 1.12 UAE Tia Juana Light 31.8 1.16 Venezuela Hewitt Stream Mix 34.4 0.83 USA (Oklahoma) Alba Crude 19.2 1.25 United Kingdom Geragai 46.4 0.03 Indonesia Margham Light Oil 50.3 0.04 UAE Tia Juana Medium 24 24.8 1.61 Venezuela Maysville 40.7 0.24 USA (Oklahoma) Anasuria 39.7 0.34 United Kingdom Ikan Pari 48 0.02 Indonesia Murban 39 0.78 UAE Tia Juana Medium 26 26.9 1.54 Venezuela Ninnekah 44.2 0.09 USA (Oklahoma) Beatrice 38.6 0.03 United Kingdom Kakap 51.5 0.05 Indonesia Thamama Condensate 58.6 0.10 UAE Tia Juana Pesado (12) 12.1 2.70 Venezuela Seminole 37.9 0.36 USA (Oklahoma) Beryl 37.5 0.32 United Kingdom Katapa 50.8 0.06 Indonesia Umm Shaif (Abu Dhabi) 37.4 1.21 UAE Zuata Sweet 15.7 2.69 Venezuela Sun Lube Extracted FDSTK 35.2 0.39 USA (Oklahoma) Brent Blend 38.3 0.40 United Kingdom Senipah 50.6 0.04 Indonesia Zakum (Lower) 40.6 1.02 UAE Mesa 28 27.9 1.16 Venezuela Tuss (Koch) 40 0.36 USA (Oklahoma) Buckland 39.3 0.31 United Kingdom Udang 38 0.05 Indonesia Zakum (Upper) 33.1 2.00 UAE Mesa 30 29.8 1.01 Venezuela Coastal B-2 32.2 0.22 USA (Texas) Captain 19.3 0.72 United Kingdom Walio Export Mix 35.4 0.68 Indonesia Fateh 32 2.00 UAE BCF 21.9 20.9 1.99 Venezuela East Texas 37 0.21 USA (Texas) Cyrus 33.2 0.38 United Kingdom Widuri 33.3 0.07 Indonesia Ras Al Khaiman 44.3 0.15 UAE BCF 22 22.3 2.02 Venezuela Heyser 36.3 0.11 USA (Texas) Duncan 38.5 0.18 United Kingdom Handil 32.5 0.11 Indonesia Mubarek 37 0.62 UAE BCF 24 23.6 1.68 Venezuela Neale 43.6 0.06 USA (Texas) Emerald 22 0.75 United Kingdom Arun Condensate 54.1 0.02 Indonesia Sharjah Condensate 49.7 0.10 UAE Refugio Light 33.9 0.11 USA (Texas) Flotta Blend 34.7 1.01 United Kingdom Bangko Sumatran MD. 33.7 0.11 Indonesia Marib 48.3 0.08 Yemen Canadian Sour 37.5 0.56 Canada Sea Breeze 37.9 0.1 USA (Texas) Foinavan 26.07 0.39 United Kingdom Lalang 40.3 0.09 Indonesia Masila 30.5 0.67 Yemen Canadian Sweet 37.7 0.42 Canada South Texas Intermediate 38.8 0.43 USA (Texas) Forties Blend 41.6 0.24 United Kingdom Minas (Sumatran Light) 34 0.11 Indonesia Russia / Caspian Sea Hibernia 35.8 0.36 Canada South Texas Lt (Union Pacific) 43.8 0.06 USA (Texas) Gryphon 21.2 0.43 United Kingdom Bintulu 36.6 0.07 Malaysia Urals 32.5 1.25 Russia Hibernia 35.8 0.36 Canada South Texas Sour 32.6 0.86 USA (Texas) Innes 45.7 0.13 United Kingdom Bunga Kekwa 37.6 0.05 Malaysia Kumkol 42.5 0.07 Kazakhstan Mixed Light Sour 31 1.00 Canada Sweden 44.3 0.05 USA (Texas) Kittiwake 37 0.65 United Kingdom Dulang 37.2 0.06 Malaysia Tengiz 46.6 0.55 Kazakhstan Panuke (Scot Lt) 54.5 0.01 Canada West Line Light 43.4 0.2 USA (Texas) Liverpool Bay 43.3 0.24 United Kingdom Kidurong 35.1 0.10 Malaysia Azeri Light 35.1 0.16 Azerbaijan Par Crude 40.02 0.30 Canada West Texas Intermediate 40.4 0.28 USA (Texas) Ninian 35.2 0.34 United Kingdom Labuan 32.2 0.07 Malaysia CPC Blend 45.1 0.60 Russia Terra Nova 33.2 0.48 Canada West Texas Semi-Sweet 39 0.27 USA (Texas) Pierce 38.1 0.13 United Kingdom Masa 44.3 0.03 Malaysia E4P 19.9 2.10 Russia Bow River Heavy 26.7 2.10 Canada (Alberta) West Texas Sour 33.3 1.99 USA (Texas) Schiehallion 25.4 0.47 United Kingdom Miri Light 32.6 0.04 Malaysia F5P 22.5 1.87 Russia Cold Lake 13.2 4.11 Canada (Alberta) Willamar 31.3 0.42 USA (Texas) Triton 39.3 0.23 United Kingdom Penara Blend 46.29 0.03 Malaysia Siberian Light 37.8 0.42 Russia Cold Lake Blend 22.6 3.60 Canada (Alberta) Tom Brown 38.2 0.1 USA (Wyoming) Wytch Farm 40 0.09 United Kingdom Tapis Blend 44 0.03 Malaysia Soviet Export Blend 31.8 1.53 Russia Federated Pipeline 39.7 0.20 Canada (Alberta) Wyoming Sweet (Amoco B) 37.2 0.33 USA (Wyoming) Tembungo 37.4 0.04 Malaysia Suzun 39.6 0.05 Russia Gulf Alberta 35.1 0.98 Canada (Alberta) Benchamas 42.4 0.03 Thailand Tagul 25.1 0.15 Russia Lloydminister Blended 22 3.15 Canada (Alberta) Songklhla 29 0.12 Thailand Pembina 38.8 0.20 Canada (Alberta) Tantawan 42.4 0.06 Thailand Rainbow 40.7 0.50 Canada (Alberta) Thai Condens. 54.2 0.02 Thailand Rangeland South 39.5 0.75 Canada (Alberta) Bach Ho (White Tiger) 38.6 0.03 Vietnam Synthetic Osa Stream 33.2 0.33 Canada (Alberta) Dai Hung (Big Bear) 36.9 0.08 Vietnam Wainwright-Kinsella 23.1 2.58 Canada (Alberta) Ruby 35.75 0.08 Vietnam Galeota Mix 32.8 0.27 Trinidad Tobago Sutu Den 35.6 0.07 Vietnam Chuncula Condensate 58.9 0.10 USA (Alabama) Sources: www.imo.com, Platt's, Haverly Crude Assay Library, HPI Consultants, EIA, Institute of Petroleum McQuilling Services, LLC ~ Marine Transport Advisors Ocean House ~ 1035 Stewart Ave ~ Garden City, NY 11530 ~ Tel: 516.227.5700 ~ Fax: 516.745.6198 While McQuilling Services has used reasonable efforts to include accurate and up-to-date information in this report, McQuilling Services makes no warranties or representations as to the accuracy of any information contained herein or accuracy or reasonableness of conclusions drawn there from. 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