floating storage

Floating Fuel Hoard off Singapore Growing As 2020 Ship Shake Up Nears

As traders stockpile fuel ahead of the biggest transition in the shipping industry, more than 30 oil tankers have anchored in the Malacca Strait off Singapore and Malaysia, reports Bloomberg.

Kpler’s estimate

The flotilla has been expanding for months as traders amass supplies of fuel that comply with new shipping IMO 2020 standards that take effect January 1. 

In April, Kpler estimated that at least five vessels laden with low-sulfur fuel oil and blending components were sitting off Singapore,...

http://mfame.guru/floating-fuel-hoard-off-singapore-growing-as-ship-shake-up-nears/

2020 Compliant Fuel Storage in Singapore at 2.9 Mn t

Inventories of IMO-compliant fuel oil and blending products reached 2.9mn t in Singapore on floating storage vessels at the end of August, according to estimates by oil analytics firm Vortexa, reports Argus Media.

Floating oil storage capacity rise in Singapore

According to Vortexa estimates:

  • Total offshore floating oil storage capacity in Singapore rose to 6.9mn t in the past 12 months, up by 2.6mn t. 
  • High-sulphur fuel oil (HSFO) stocks were 300,000t lower over the past month, while low-sulphur...

http://mfame.guru/2020-compliant-fuel-storage-in-singapore-at-2-9-mn-t/

Idling LNG Tankers Hint at Increasing Inclination Towards Floating Storage

Liquefied natural gas tankers are taking longer-than-usual journeys to deliver cargoes and spending more time idling at sea in a sign some traders are starting to use vessels for storage, reports Bloomberg Quint.

Logistical and Weather issues

There may be other reasons for keeping the cargoes on the water, including logistical or weather issues, such as a monsoon in India. But with spot prices near their lowest since April 2016, sellers may be betting that they will rise as the northern...

http://mfame.guru/idling-lng-tankers-hint-at-increasing-inclination-towards-floating-storage/

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