Tank Storage Market Briefing, Tank Storage Availability Worldwide - Week 10
03.11.2019 By Ricardo Perez - NEWS

Secure competitive tank storage deals, even if you don’t have the required know-how and time. Learn how.

 

Overview: Oil Market

The oil market has made an impressive comeback this year. Year to date the market has rallied more than 20% and more than 6 dollars in the last week only. OPEC/Saudi Arabia production cuts and correlation with equities are the main drivers for the move up.

But Iranian and Venezuelan sanctions (more below) are also above the market and are adding flavor, especially to seaborne Brent. The big question is whether the rally will continue with supply and demand predictions pointing to an oversupplied market so OPEC compliance is key and now at 87%. But any relief in the US/China trade rhetoric will certainly outweigh those worries and will give the market another boost.

Overview: Crude Market

WTI is displaying a decent cash and carry with front month more than 40 cents and Jun/Dec almost 90 cents contango. Brent is only showing a slight contango at the front and Jun/Dec at almost a buck backwardation. The reason for the backwardation is the same as the reason for the flat price rally: less barrels in the Atlantic basin due to outages, cuts and sanctions. The restricted supplies from the Middle East can also be witnessed in the freight market as more than 10 empty VLCC’s are now making voyages to the US, to export light crude from there.

Normally these vessels would arrive with heavy sour Middle East oil. The increasing contango in the WTI curve is due to the high Cushing stocks and the upcoming refinery turnarounds in the US to prepare for the summer driving season and of course the ever-increasing domestic production: last week US oil production reached 12 million barrels! Demand for storage in Europe is negligible at the moment, demand for US storage could pick up soon.

Washington imposed fresh sanctions on PDVSA last month to cut off a key source of revenue for President Nicolas Maduro. Due to the size of Venezuela’s oil-for-loan agreements with China and Russia and the weight of previous U.S. sanctions, cash-strapped PDVSA has become increasingly reliant on intermediaries to export its crude and import refined products. Some of these trading firms have stopped trading with Venezuela though, like Trafigura.

Trafigura has a long-standing arrangement with state-run PDVSA to take Venezuelan crude and, in exchange, supply the Latin American country with refined products. Venezuela is paying heavy premiums for fuel imports from Russia and Europe, with fewer than a dozen sellers seeing the risk as worth the reward after flows from the United States dried up because of sanctions. These barrels need to go somewhere. New flows result in new storage demands. We have the tanks to store the crude or the products till the sanctions will be over.

 

Tank Storage Availability Worldwide
Capacity (m3) Product Location Available from Enquire for Storage
New
32,081 Chemicals ARA Now / Q2, 2019 Click here
6,440 Easy Chemicals Inland Germany Now Click here
17,000 Dirty Petroleum Products North Germany Now Click here
900 Chemicals Inland Germany Q2, 2019 Click here
Belgium – The Netherlands
317,600 Diesel / Gasoil ARA Now Click here
96,400 Light Ends ARA Now / Q1, 2019 Click here
3,170 Vegoils ARA Now Click here
40,000 Biodiesel ARA Now, Q3 – 2019 Click here
10,000 Bitumen ARA Now / Q1, 2019 Click here
North Europe
460,000 Diesel / Gasoil North Germany Now Click here
6,000 Diesel / Gasoil North Germany Q1, 2019 Click here
30,000 Light Ends West Coast UK Now Click here
3,000 Diesel / Gasoil West Coast UK Now Click here
10,000 Various Products West Coast UK Now Click here
660,000 Crude West Coast UK Q2/Q3, 2019 Click here
360,000 Diesel / Gasoil West Coast UK Q2/Q3, 2019 Click here
40,000 Various East Coast UK Now Click here
15,000 Various East Coast UK Q4, 2019 Click here
15,000 Diesel / Gasoil East Coast Scotland Now Click here
100,000 Light Ends FP<60 Ireland Now Click here
200,000 Crude Ireland Now Click here
4,700 Various Denmark Now Click here
517,000 Diesel / Gasoil Denmark Now Click here
122,500 Light Ends Denmark Now Click here
100,000 Dirty Pet Prods Denmark Now Click here
155,500 Diesel / Gasoil Sweden Now Click here
74,579 Dirty Petroleum Products Sweden Now Click here
5,000 Vegoils Sweden Now Click here
15,000 Light Ends Sweden Now Click here
8,300 Light Ends Norway Now Click here
20,000 Diesel / Gasoil Norway Now Click here
391,000 Diesel / Gasoil Finland Now Click here
75,000 Diesel / Gasoil Estonia Now Click here
60,000 Light Ends Estonia Now Click here
200,000 Crude Baltics Now Click here
9,000 Light Ends FP<60 Latvia Now Click here
South Europe | Mediterranean | Black Sea
6,000 Chemicals France Now Click here
260,000 Crude France Now Click here
60,000 Diesel / Gasoil France Now Click here
4,000 Chems South France – inland Now Click here
7,000 Gasoline / Componenten North France Q2, 2019 Click here
400,000 Crude NW Spain Q3, 2019 Click here
5,000 Light Ends NW Spain Now Click here
50,000 Vegoils NW Spain Now Click here
25,000 Fuel Oil/ Veg Oils South Spain Now Click here
45,000 Clean Petroleum Products South Spain Now Click here
35,000 Biodiesel East Spain Q1, 2019 Click here
55,000 Chemicals East Spain Q1-Q2, 2019 Click here
279,000 Diesel / Gasoil East Spain Now Click here
45,000 Dirty Petroleum Products East Spain Now Click here
80,000 Light Ends East Spain Q1, 2019 Click here
62,000 Clean Petroleum Products Malta Now Click here
7,500 Chemicals NE Italy Now Click here
15,000 Diesel NE Italy Now Click here
2,050 Chemicals NW Italy Now Click here
28,000 Diesel / Gasoil NW Italy Q3, 2019 Click here
30,000 Diesel / Veg oil / Edible NW Italy Now Click here
9,900 Light Ends Albania Now Click here
22,000 Veg oil / Diesel / No heating Albania Now Click here
10,000 Chems / petroleum prods Croatia Now Click here
300,000 Crude Croatia Now Click here
45,000 Diesel / Gasoil East Med Now Click here
58,000 Diesel Turkey Now Click here
45,000 Fuel Oil SE Turkey Now Click here
120,000 Light Ends FP<60 SE Turkey Now Click here
40,000 Light Ends FP<60 Romania Now Click here
30,000 Clean Petroleum Products Georgia Now Click here
100,000 Crude / Dirty Petroleum Products Georgia Now Click here
5,000 Vegoils / Chems Ukraine, Black Sea Now Click here
30,000 Clean Petroleum Products Ukraine, Danube Now Click here
45,000 Dirty Petroleum Products / Black Prods Ukraine, Danube Now Click here
12,000 Fuel oil / Vegoils, heating Ukraine, Danube Now Click here
5,000 Base oils / Chems SW Russia Now Click here
20,000 Methanol SW Russia Now Click here
Africa
14,200 Chems, excl. acids Egypt Now Click here
6,000 Easy Chems / Vegoils /Edible Egypt Now Click here
10,000 Petroleum Products Egypt Now Click here
2,000 Chemicals Kenya Now Click here
12,000 Chemicals Tanzania Now Click here
12,000 Gasoil Tanzania Now Click here
55,000 Diesel / Gasoline Ghana Sept, 2017 Click here
2,200,000 Crude South Africa Now Click here
10,000 Gasoline South Africa Now Click here
10,000 Diesel South Africa Now Click here
Middle East
100,000 Various Products Gujarat, India Now Click here
30,000 Chems Gujarat, India Now Click here
15,000 Bitumen Gujarat, India Now Click here
100,000 Diesel / Gasoil Gujarat, India Now Click here
50,000 Light ends Gujarat, India Now Click here
884,200 Various Products UAE Sept, 2017 Click here
172,000 Diesel / Gasoil UAE Now Click here
91,180 Light Ends FP<60 UAE Now Click here
74,000 Dirty Petroleum Products UAE Now Click here
35,795 Chems UAE Now Click here
Far East Asia
30,000 Light Ends South China Now Click here
200,000 Dirty Petroleum Products South China Now Click here
200,000 Dirty Petroleum Products North China Now Click here
200,000 Dirty Petroleum Products Gr. Ningbo Now Click here
300,000 Crude Gr. Ningbo Now Click here
300,000 Crude Shangdong Now Click here
8,000 Chemicals Shangdong Now Click here
3,500 Chemicals Gr. Ningbo Now Click here
5,500 Chemicals South China Now Click here
75,000 Dirty Petroleum Products South Korea Now Click here
14,100 Chemicals South Korea Now Click here
72,500 Light Ends South Korea Now Click here
90,000 Dirty Petroleum Products Malaysia Now Click here
22,000 Vegoils / Chems Malaysia Q2, 2019 Click here
400,000 Dirty Petroleum Products Singapore Now Click here
46,000 Light Ends Singapore Now Click here
580,000 Light Ends / Diesel Singapore Q3, 2019 Click here
60,000 Light Ends / Diesel Singapore Q4, 2019 Click here
200,000 Diesel / Gasoil Gr. Singapore Now Click here
255,000 Dirty Petroleum Products Gr. Singapore Now Click here
North America
320,000 Light Ends California USA Now Click here
150,000 Light Ends California USA Q2, 2019 Click here
20,000 Chemicals California USA Now Click here
2,360,000 Dirty Petroleum Products New York USA Now Click here
2,295,000 Crude New York USA Now Click here
21,000 Chemicals New York, USA Now Click here
50,000 Chems New Jersey USA Now Click here
100,000 Diesel / Gasoil New Jersey USA Now Click here
114,000 Light Ends New Jersey USA Now Click here
50,000 Light Ends Washington, USA Q2, 2019 Click here
76,000 Dirty Petroleum Products Maryland USA Now Click here
250,000 Chemicals North Carolina USA Now Click here
20,000 Chemicals South Carolina, USA Now Click here
120,000 Light Ends Rhode Island USA Now Click here
100,000 bbl LPG New Hampshire, USA Now Click here
570,000 Various Products Georgia USA Now Click here
265,000 Chemicals Louisiana USA Now Click here
260,000 Chemicals Louisiana USA Now Click here
210,000 Various Products Texas, USA Now Click here
30,000 Biodiesel Texas USA Now Click here
194,000 Chemicals Texas, USA Q1, 2019 Click here
Central & South America
350,000 Crude Bahamas Now Click here
2,300,000 Diesel / Gasoil Aruba Now Click here
190,000 Various Products Puerto Rico Now Click here
110,000 Crude Colombia (Caribbean) Now Click here
392,000 Diesel / Gasoil Colombia (Caribbean) Now Click here
285,000 Dirty Petroleum Products Panama, Atlantic Now Click here
29,500 Dirty Petroleum Products Argentina Now Click here
10,000 Diesel/ Gasoil Argentina Now Click here
Phillips 66 Sees Global Fuel-Market Growth Even as US Demand Plateaus
03.28.2024 - NEWS
March 28, 2024 [Bloomberg]- Phillips 66, the No. 2 US oil refiner, expects global demand for moto... Read More
Traders are Buying Oil at the Fastest Rate Since 2020
03.28.2024 - NEWS
March 28, 2024 [Oilprice]- After months of skepticism, traders seem to have finally realized that... Read More
Oil Moves Down on Massive Inventory Build
03.28.2024 - NEWS
March 28, 2024 [Oilprice]- Crude oil prices saw a small dip on Thursday morning after the Energy ... Read More
Tra Vinh Approves 576 Billion VND Petroleum Storage Terminal Project
03.27.2024 - NEWS
March 27, 2024 [Vietnam Plus]- The southern province of Tra Vinh has approved an investment worth... Read More