Kpler Crude Oil (Floating Storage)

Originally Released on 24 January 2017

Floating storage – USGC
  • 12 million barrels of crude are currently stored in tankers that have been sitting for more than 10 days in the USGC. USGC floating storage averaged 4 million barrels in 2016:
Tankers in US Gulf Coast sitting with crude for more than 10 days
  • 13 vessels have been sitting for more than 10 days laden with crude in USGC: 1 ULCC, 4 VLCC, 1 Suezmax, 6 Aframax and 1 Panamax:
  • More than 50% of these floating volumes come from Al-Basrah terminal and over two thirds come from Arab Gulf.




US trade figures week-ending Jan-20
US exports
  • EIA statistics and Kpler data showed that crude oil exports from US Gulf Coast have increased over the last few weeks, passing above 700 kbd, according to EIA. Koch Ingleside terminal, located in Corpus Christi, has ramped-up exports and reached 100 kbd in a few weeks.
Koch Ingleside weekly exports (kbd)
  • On the other hand, Enterprise Houston, a terminal that regularly ships US crude to several outlets in Europe and Latin America, has significantly decreased  the number of shipments. No exports from Enterprise Houston were seen in January so far.
  • As a consequence of a lack of infrastructure for VLCC loadings in USGC terminals, reverse lightering is the preferred method to load VLCC’s. In January, we have already seen 2 VLCC’s loading their cargo offshore and heading towards Asia.