Market & routes
WAF
West Africa
Meaning
WAF is the market abbreviation for West Africa, mainly the crude export terminals of Nigeria, Angola and the Republic of Congo.
WAF explained
WAF crude is light and sweet and goes to Europe on Suezmaxes and to India and China on VLCCs. Terminals include Bonny, Qua Iboe, Forcados, Malongo and Djeno.
Related terms
TD20
TD20 is the Baltic Exchange benchmark Suezmax route for a 130,000-tonne crude cargo from offshore Bonny, Nigeria, to Rotterdam.
Suezmax
A Suezmax is a tanker of about 120,000 to 200,000 deadweight tonnes, the largest size that can transit the Suez Canal fully laden, carrying around 1 million barrels.
VLCC
A VLCC is a very large crude carrier of roughly 200,000 to 320,000 deadweight tonnes, carrying about 2 million barrels of crude oil.