Freight
Added May 17, 2021

Crude tanker delays as cyclone hits WC India

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Vortexa data shows at least 12mn bbl of crude has been delayed in discharging into key ports along India’s west coast, following the arrival of Cyclone Tauktae.

  • The ports threatened with the most disruption in the region are Sikka, Vadinar and Mundra. Sikka is home to Reliance's 1.4mn b/d Jamnagar refinery and Nayara own a 400,000 b/d refinery at Vadinar. Crude imports at Mundra enter a pipeline distribution network feeding other Indian refineries.

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  • All port operations in the vicinity of the cyclone have been suspended and vessels awaiting discharge or scheduled to load are being told to sail back out to high seas.

  • From a freight perspective prolonged crude discharge delays at these ports are likely to impact VLCC tankers the most, then Suezmax tankers.
  • Of the nine crude tankers lying just offshore WC India (pictured), five VLCC tankers, one Suezmax and one Aframax (amounting to around 10mn bbl) have Sikka as their next destination.

  • Combined crude imports into Sikka, Vadinar and Mundra totalled 3.11mn b/d for the week ending 16 May.

  • Meanwhile, product exports will also be affected, which comes at a time Covid-19 is seriously affecting domestic demand. All these developments do not bode well for refining operations in India.
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