Europe, Middle East & Africa

Floating storage has been moving faster during the last few weeks in all the regions we follow. First, we have seen Iran floating storage drop to 24 million barrels after attaining record highs close to 40 million barrels in October earlier this year.
In the North European side, we have seen many vessels delivering crude they had carried for weeks. Nevertheless, the aggregate figure remained relatively stable around 10 million barrels due to new barrels being loaded into vessels sitting without destination.
Below, our detailed list of floating storage for Iran, NWE and WAF. In grey, vessels that were previously reported as floating storage but discharged or signaled a final destination in the last days:


North West Europe

Western Africa

  • Yannis P. discharged 1 million barrels of ERHA crude at Abidjan. on Dec.14
  • VLCC Amantea loaded 2 million barrels of Qua Iboe on Dec.2 joining VLCC’s Maran Gemini and Millenium in the list of vessels storing Qua Iboe.
  • VLCC’s Maersk Hayama and Front Kathrine loaded approx. 2 million barrels of Saturno crude oil on Dec.10 and Dec.15 respectively. None of them set any destination.
  • VLCC Horse left Iranian floating storage with a volume of 2.12 Mb. She signaled Ulsan as final destination ETA Jan.10.
  • VLCC Hero II  left Iranian floating storage with a volume of 2.05 Mb. She is heading toward Daesan ETA Jan.9



Kpler methodology

Kpler import figures are based in the physical reality of the cargo (ie. berthing dates of the cargo). We are aware that our methodology differs from US Energy Information Administration (EIA) methodology. As a consequence, a few “swing cargoes” may be accounted differently by EIA and Kpler. It was the case for weeks ending on Dec.2 and Dec.9. Below, a short explanation of the methodology we have built in order to obtain the most accurate US import figures in EIA time frame:

  • We account as imports all cargoes physically discharged in US territory during the previous week and coming from a foreign country (Friday 12:00 UTC to Friday 12:00 UTC)
  • A first estimation of the volume is calculated by our model based on draft.
  • We replace these values with Bill of lading values as they come. The large majority of bill of ladings for the EIA week have been inserted in our system before Wednesday.

Note that we are able to provide the cargo-by-cargo raw data used in our figures if needed.