Physical bunker supplies will play an important role in the industry achieving a high level of IMO 2020 compliance - around 90% - ClipperData Energy analyst, Josh Lowell, tells Ship & Bunker in a recent interview.
US oil prices have spiked 40% since Christmas Eve thanks to OPEC's aggressive production cuts.
“Barring weather surprises, volatility is likely to die down as we shuffle into spring, with prices settling back into their prior range around $3” per million British thermal units."
The Louisiana Offshore Oil Port holds the enviable title as the only US facility capable of fully loading a supertanker with crude.
US crude exports have boomed since legal restrictions on exports were lifted in late 2015. The supply of light, sweet crude far exceeds the demand by domestic refiners, many of which were configured to run on heavy, sour barrels.
China's soybean imports in the opening weeks of 2019 have plunged from recent years, raising concerns for American farmers who were hoping that a trade deal would offer swift relief.
Soybean shipments offloaded in China this year are down about 37 percent from the first two weeks of 2018, according to tanker-tracking firm ClipperData.
NEW YORK, Jan. 15, 2019 /PRNewswire/ -- ClipperData, LLC — a global leader in crude oil and petroleum product cargo tracking — announces the release of GeopoliticOIL, its new weekly geopolitical publication. The digital, subscription-based publication offers readers a succinct analysis of the political and macroeconomic developments affecting energy markets.
Designed to deliver exclusive and in-depth insights into the external factors driving market direction, GeopoliticOIL aims to help readers gain a deeper understanding of political and military developments in the Middle East, West Africa, Latin America and Russia that could impact the production and transportation of crude and oil products.
Like Texas, our neighbor south of the border is what you might consider to be oil-rich. Yet as gasoline prices continue to fall here in Texas, there are reports of a critical gasoline shortage in Mexico, fueling long lines at the pump. Some say this has to do, in part, with Mexico’s new president, Andrés Manuel López Obrador, or AMLO. Matt Smith, director of commodity research at ClipperData, says AMLO has set out to combat fuel theft, which is having an effect on prices.
“They’ve lost billions of dollars each year, basically due to pipeline siphoning,” Smith says. “[But] the policies he’s employed … focusing on shifting products by trucks rather than pipelines has caused massive fuel shortages across the country.”
While slightly lower early Friday, crude oil future prices appeared set to end the week with a significant gain based on expectations of trade improvements, a weaker dollar and output cuts by OPEC.
West Texas Intermediate front-month crude futures traded at $52.29, or 0.6 percent lower, at 08:30 a.m. EST, with Brent crude trading 0.7 percent lower at $61.25 per barrel.
"Crude is running out of steam after a very strong week, following equities in turning negative," Matthew Smith, director of commodity research at ClipperData, told UPI.
Mexico has significantly reduced imports of U.S. gasoline since President Andrés Manuel López Obrador took office Dec. 1, as a government crackdown on fuel theft has jammed up distribution and caused widespread gasoline shortages.
Seaborne gasoline imports from the U.S. Gulf Coast have averaged about 350,000 barrels a day under Mr. López Obrador, a 28% decline from December 2017 and January 2018, according to research firm ClipperData.
American oil refineries are running full tilt to meet insatiable demand for gasoline and diesel at home and abroad. Refineries processed a record-high 18 million barrels of crude per day in early July, according to government statistics. Full-year refinery activity is expected to hit a record in 2018 for the second year in a row.
Seven grades of crude will be accepted for delivery under the Chinese futures contract, including Basrah Light, a Middle Eastern high-sulfur “sour” oil. China is the biggest buyer of Basrah Light, with 618,000 barrels a day delivered in 2017, with the second and third purchasers being India and the U.S., according to Matt Smith, director of commodity research at ClipperData.
“The competition with the U.S. for Basrah Light is most likely the most interesting aspect of this new futures contract,” notes Smith.
Last week, prices at Texas gas pump spiked by 14 cents on average — the highest weekly average in about two years. At a time when the headlines are full of news about plentiful oil in the Permian Basin, shouldn’t gasoline prices in Texas be on the decline?
Matt Smith, director of commodity research at ClipperData says oil’s market price, not the amount being pumped, determines how much gas at the pump costs.
ClipperData LLC, the global leader in real-time crude oil and petroleum product cargo tracking, and Eqlim, a pioneer in the field of real-time risk intelligence, today announced the release of their second-generation "Impact Alerts" service.
There is a gap in the containership market calling for a maritime data provider that focuses on cargo movements, says ClipperData chief executive Abudi Zein.
The co-founder of the New York-based firm already follows cargo movement in the tanker and dry cargo sectors — and it is set to do the same in the box sector from this month.
A leading container shipping analyst is jumping ship. Veteran boxship guru Neil Dekker has left UK shipping consultancy Drewry after more than a decade to develop container research with a company better known for research in the tanker markets.
He has joined ClipperData, a New York-based company that has secured a reputation for tracking movements in crude oil and petrochemical markets.
The US operation is understood to have recruited Dekker to its growing London operation in order to cover a wider range of markets, including container shipping and ports.
Dekker, a regular speaker and panellist at container shipping conferences, was director of container research at Drewry, which he joined in 2006.
CLIPPERDATA LLC ACQUIRES FUEL OIL & FEEDSTOCK TRADER PUBLICATION FROM AXELROD ENERGY PROJECTS LLC
New offerings to integrate the industry’s best real-time data and news services to provide superior market intelligence to traders in the world fuel oil and heavy feedstock space
Athens, Greece, May 22, 2017: Lawrence Axelrod, founder and principal of Axelrod Energy Projects LCC, an international energy consulting and brokerage firm, and Abudi Zein, co-founder and CEO of ClipperData, a global leader in crude oil and petroleum product cargo tracking, announced the sale of Axelrod’s Fuel Oil & Feedstock Trader to ClipperData. Fuel Oil & Feedstock Trader provides market intelligence and analysis of the world fuel oil and heavy feedstock markets to majors, state oil firms, refiners, traders, power companies, bunker suppliers, power companies, storage companies, and investment banks around the world. The announcement was made at Axelrod’s 10th annual World Fuel Oil Summit held in Athens on May 18-20, 2017.
“We’re integrating the world’s best real-time fuel oil cargo data source with the world’s most in-depth fuel oil news coverage and analytical reporting,” says Abudi Zein of ClipperData. “Our data will underpin and enhance the news coverage, while the news gathering will help refine and direct our data collection.” For the first time, real-time tracking of cargo flows will underpin investigative reporting, news and commentary analysis. “Traders are increasingly demanding more hard data with their news,” adds Abudi Zein, “This acquisition will be good news for traders wanting more actionable market intelligence.”
The sale of Fuel Oil & Feedstock Trader will permit Axelrod Energy Projects to focus on the firm’s core areas of business – research and consulting, oil cargo brokerage, and project development. “Axelrod Energy Projects will be in a stronger position to assist consulting and commercial clients identify and seize opportunities as the world fuel oil market undergoes structural transformation,” Lawrence Axelrod observes.
ClipperData, headquartered in New York City, holds exclusive partnerships with the U.S. Customs & Border Patrol and Inchcape Shipping Services, the world’s largest port agent. ClipperData offers the industry’s most comprehensive database of waterborne – oceangoing, inland barge, ship-to-ship and floating storage – flows of all crude oil and petroleum products worldwide. ClipperData delivers unrivalled real-time transparency: by ship, grade, API gravity, volume, load/discharge port and dock, along with consignee information. www.clipperdata.com
ABOUT AXELROD ENERGY PROJECTS
New York-based Axelrod Energy Projects LLC provides a variety of services to the international oil and energy industries. AEP’s services include research and consulting, physical brokerage of oil barges and cargoes, and project development. www.axelrodenergyprojects.com
The annual World Fuel Oil Summit, organized by Axelrod Energy Projects, brings together traders and other industry participants from around the world. The three-day event includes a facility tour, conference proceedings, and a visit to local landmarks. www.worldfueloilsusmit.com
Das geht aus den Daten der Schiffsanalysefirma Clipper Da- ta hervor. Voll ist das Schiff noch nicht: Bis zu 3,7 Millionen Barrel (à 159 Liter) Öl kann ein solcher Supertanker fassen. Allein mit einer einzigen sol- chen Lieferung ließe sich der deutsche Ölbedarf anderthalb Tage lang decken.
"OPEC realized they're facing an impossible battle -- and instead has retreated," said Matt Smith, director of commodity research at Clipper Data.
Ultimately, OPEC decided the financial pain inflicted by the collapse of crude trumped the benefits of continuing to push out producers like the U.S. that tend to need higher prices.
"OPEC hasn't been able to slay the dragon that is the U.S. shale boom," Smith said.
Waterborne crude volumes (including imports) delivered to coastal refineries in Texas, Louisiana and Mississippi by domestic producers peaked at 27% of inputs in 2014 as regional plants processed increasing quantities of shale crude.
Oil prices hit 2016 highs on Thursday, with U.S. crude surging 5 percent to pierce the $40 barrier, on optimism that major producers will strike an output freeze deal next month amid rising crude exports and gasoline demand in the United States.
In the past month, oil has seen a tentative production freeze involving almost three-quarters of the world’s producers, shale oil output falling, talk of a possible OPEC cut later this year, improved macroeconomic data and fewer fears of a recession, and China soaking up barrels for its Strategic Petroleum Reserve.
Crude futures settled with a sharp loss on Tuesday after Saudi Arabia's oil minister, Ali al-Naimi, shattered any hopes that producers would cut back on output to help alleviate the world's excess supplies.
Despite the resurgence of oil prices that saw 12 percent gains on Friday following claims that the Organization of the Petroleum Exporting Countries (OPEC) is close to discussing cuts with non members, analysts warn that the rebound is based on "false hope."
U.S. crude prices fell 2 per cent on Wednesday after stockpiles at the main U.S. delivery point hit record highs, while Brent rose for the first time in five days after Russia suggested oil producers cut output by a million barrels each.
Two tankers of US oil arrived in Europe last week, delivering the first cargoes allowed since Washington repealed a decades-old ban on exporting crude. With two more vessels now crossing the Atlantic, oil market watchers have a simple question: why?
After US crude prices broke below $30 per barrel for the first time in 15 years, the market is asking how low oil futures can go? Most analyses see it rebounding in the back half of 2016, but crude faces significant headwinds in the coming months, experts told CNBC.
Crude oil is getting slammed on Monday, with front-month contracts for Brent and West Texas Intermediate each down more than 6 percent at their lows for the day. Meanwhile, Western Canadian Select, a heavier blend of crude, is trading at $16.32 per barrel.
The race to load the first freely exported U.S. crude cargo was won by NuStar’s Corpus Christi terminal, edging out Enterprise’s Houston terminal, as the Theo T set sail for Italy on New Year’s Eve with Eagle Ford crude and condensate on board.
The end of U.S. oil's four-decade isolation from global markets was in sight Wednesday, as congressional leaders negotiated a $1.1 trillion spending deal that included a provision to lift the ban on sending American crude abroad.
American travelers are being treated to bargains at the gasoline pump this Thanksgiving weekend. Prices are at their lowest level for the holiday since the financial crisis of 2008 despite heightened tensions in the Middle East and a spate of terrorist attacks that would normally lead to higher prices.
A traffic jam of oil tankers, with more than 20 million barrels of crude, has emerged along the Texas coast this month, a snarl that some traders see as the latest sign of an unyielding global supply glut.
Global oil markets tumbled on Wednesday, with U.S. crude futures settling down 4 percent after bullish impact from lower crude inventories was offset by large gasoline builds that raised concerns about high autumn fuel supplies.
Crude oil distribution to Houston area refineries is still being re-plumbed to reflect the ongoing transition to domestic supply. Although plenty of new pipelines provide access for new crude flows into Houston, logistic challenges arise from a crude quality mismatch with refinery configurations.
Data from the Energy Information Administration (EIA) shows that inland barge movements between the U.S. Midwest and the Gulf Coast increased 10 fold between January 2011 and October 2013 to nearly 160 Mb/d in response to soaring crude production and pipeline congestion.
A Texas-based affiliate of Mitsubishi Corp has exported the first condensate cargo from Texas International Terminals in Galveston, Texas, industry firm ClipperData said, as shippers increasingly find more berths from which to move the super-light U.S. oil to international markets.
BP Plc and Royal Dutch Shell each have shipped cargoes of Canadian crude oil out of the Texas coast this month, according to industry firm ClipperData, highlighting a once-rare journey that is expected to become more common.