Rus News Journal

Sea reserves

Instead of oil load processing products into tankers

Contrary to expectations of experts number of floating oil storages in November has reached record level. Only this time in tankers zakachivajut not so much crude oil, how many oil products. The reason in warm winter, from - for what demand for fuel has fallen. neftepererabotchiki not to stop manufacture, store production in the sea, the blessing low cost of the freight leaves such possibility.

the number of the tankers used not for transportation, and for storage of oil and oil products­, has grown in November to record level, informs Bloomberg referring to given companies EA Gibson Shipbrokers Ltd.

the Quantity of floating storehouses has increased last month by 20 courts, to 149, from them 37 supertankers and 17 tankers “ suetsmaks “ for transportation of oil and 95 tankers for oil products. Transformation of tankers into floating tanks has begun in the lowest prices for raw materials. Fairly fallen in price freight without effort will pay off after sale of reserves at the evolved prices. Experts counted that sale of stocks will begin in the near future as oil cost stably keeps at high level. Nevertheless the number of floating oil storages indefatigably grows.

according to Gibson, the volume hranimoj in oil tankers decreases, while the volume of products of oil refining grows. Analyst IFD “ the Capital “ Vitaly Krjukov notices that the warm winter became the reason of reduction in demand for distillates which usually grows in this season. Besides an oil refining margin on - former very low, frequently factories work at a loss. “ probably, manufacturers have decided not to stop activity, and zakachat oil products in tankers to sell them when solvent demand will be restored. They wait that in the future it will bring more than profit “ - the expert argues.

G - n Hooks supposes that traders already get profit on oil storage in tankers. It is connected by that in the market there was a unique situation kontango, attractive to gamble. Oil industry workers fill in oil and products of processing in tankers and at the same time sell distant futures at higher price then deliver the chartered raw materials.