Oil & Gas
Added Mar 29, 2021

Infographic: Cargoes Stuck in Suez

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210329_SuezCanal_infographic

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  • Vortexa analysis shows that about 90 oil & gas carriers (MR tankers and above) are stuck or will be delayed soon in spite of the potentially successful efforts to free EVER GIVEN.
  • However, the affected 9mn mt of hydrocarbons make up only small shares of the respective consumption levels in destination markets. Given this, consumers will be shielded from ample stock levels and various options to adjust operations from any supply shortfalls.
  • Diesel and jet flows to Europe and fuel oil flows to East of Suez have the highest relevance and may provide some support to pricing. The most interesting flow concerns biodiesel feedstocks to Europe, where about a full quarter of monthly import needs may currently be stuck.
  • Equal amounts of LNG are stuck on both sides of the Canal, potentially giving rise to the idea of cargo swaps.

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