Crude oil in floating storage is falling - May 4
Posted: Wed May 04, 2022 11:36 am
Above ground inventories are going to be the PRIMARY DRIVER of oil prices, especially U.S. and OECD inventories. Also, the amount of oil in tankers is watched carefully because it is oil that can get into the market quickly.
By Bloomberg Automation
(Bloomberg) -- The amount of crude oil held around the world on tankers that have been stationary for at least 7 days fell to 94.47m bbl as of April 29, Vortexa data show.
* That's down 4.5% from 98.95m bbl on April 22
* Asia Pacific down 2.4% w/w to 61.42m bbl
* West Africa down 19% w/w to 7.91m bbl
* Europe down 43% w/w to 2.91m bbl
* North Sea up 95% w/w to 1.18m bbl
* U.S. Gulf Coast down 62% w/w to 276.00k bbl
* Company Exposure:
** Asia: Cosco Shipping Energy Transportation Co., HMM Co. Ltd.,
Mitsui O.S.K. Lines Ltd., Nippon Yusen KK
** Europe: Euronav NV, Frontline, Vopak
** U.S.: DHT Holdings, International Seaways, Nordic American
Tankers, Teekay Tankers, Tsakos Energy Navigation
* NOTE:
** The data is subject to constant revisions and is accurate at
the time of publication
** Vortexa data exclude FPSO units, oil products and Iranian
condensate
** Crude oil transferred by STS isn’t included until that volume
has been stationary on receiving vessel for 7 days
** Data don’t include vessels booked for floating storage until
they are actually stationary for the minimum period
** See VTXA or DATA FLOAT for more data and see NI TANTRA for
all tanker-tracking stories
** See SPOT FREIGHT for freight rate assessments using
shipbroker data
By Bloomberg Automation
(Bloomberg) -- The amount of crude oil held around the world on tankers that have been stationary for at least 7 days fell to 94.47m bbl as of April 29, Vortexa data show.
* That's down 4.5% from 98.95m bbl on April 22
* Asia Pacific down 2.4% w/w to 61.42m bbl
* West Africa down 19% w/w to 7.91m bbl
* Europe down 43% w/w to 2.91m bbl
* North Sea up 95% w/w to 1.18m bbl
* U.S. Gulf Coast down 62% w/w to 276.00k bbl
* Company Exposure:
** Asia: Cosco Shipping Energy Transportation Co., HMM Co. Ltd.,
Mitsui O.S.K. Lines Ltd., Nippon Yusen KK
** Europe: Euronav NV, Frontline, Vopak
** U.S.: DHT Holdings, International Seaways, Nordic American
Tankers, Teekay Tankers, Tsakos Energy Navigation
* NOTE:
** The data is subject to constant revisions and is accurate at
the time of publication
** Vortexa data exclude FPSO units, oil products and Iranian
condensate
** Crude oil transferred by STS isn’t included until that volume
has been stationary on receiving vessel for 7 days
** Data don’t include vessels booked for floating storage until
they are actually stationary for the minimum period
** See VTXA or DATA FLOAT for more data and see NI TANTRA for
all tanker-tracking stories
** See SPOT FREIGHT for freight rate assessments using
shipbroker data