Tag Archives: Barnstaple

The mystery of the large ship seen off the coast of Devon is solved | Instant News

Five of the six large ships seen off the coast of North Devon yesterday were still anchored in the Bristol Strait.

The vessels are expected to wait to dock at Port Talbot in South Wales and to anchor in the Bristol Strait, north of Ilfracombe.

The Mediterranean Highway aircraft carrier, registered in Panama, has the German port Emden registered after its next destination, and is reported as ‘at the port’ in Port Talbort, South Wales.

Singapore registers Sagar Samrat, a bulk cargo carrier, sailing to Port Talbot from Kokolla in Sweden.

The bulk cargo carrier registered in the Marshall Islands, Golden Eagle, sailed from the port of Buchanan in Liberia, West Africa, and was also said to be docking at Port Talbot.

SSI Excellent, another registered mass carrier on the Marshall Islands in the central Pacific, is heading for Port Talbot from the port of Norfolk in the US.

Registered Bulk Endurance in Panama, another bulk cargo carrier, is also understood to be heading to Port Talbot.

Although it is not known exactly why these ships appear to be waiting in the Bristol Strait, it is understood that cargo ships will sometimes wait at sea for the price of the commodities they carry to rise before being lowered.

Back in 2009, ten tankers anchored in Lyme Bay, off the South Devon Coast, for months – and refused to lower their oil until prices rose.

At the time, Mail said they were “part of a fleet of ten ships that refused to lower their cargo until market speculation had raised the price to the level they wanted”.

“And because the value of the cargo is currently rising by more than £ 1 million a day, partly driven by traders and speculators who are looking for profit, it seems unlikely to see the gas station in the near future.”

Earlier this week, US oil prices plunged below zero – to the lowest level of minus $ 40 – with traders trying to relinquish obligations to take physical products because storage capacity was reached. This follows a large drop in global demand due to the COVID-19 corona virus pandemic.

Crisis happened oil price war and the stock market panic last month, and Russia refuses to support OPEC’s plans to cut oil production because demand has fallen after the crisis.

Saudi Arabia reacted by increasing its crude oil production, which has caused oil prices to fall – causing turmoil on the stock market.


image source