Insight

Fill baby fill – part II: with floating storage, the tide is turning

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14 May 2020

Fill baby fill – part II: with floating storage, the tide is turning

Report summary

Storage tank-tops were front of mind through April and early May from a market in significant oversupply. Traders turned to offshore floating storage to absorb market excess, and traditional crude tankers proved to be a buoy to keep the market afloat. Floating storage volumes ripped higher in April; however, recent Genscape data indicates that that trend may be plateauing, indicative of a market finally finding balance after months of turmoil. In this insight, we explore: -April and May global floating storage crude builds -Global market response to global supply glut and increasing dependency on crude storage -Potential for growing market deficit amongst recovery of liquids demand

Table of contents

  • Bottom in fundamentals?
  • The roadmap toward a market in deficit
  • ‘Tank tops’ concerns ebbing

Tables and charts

This report includes 2 images and tables including:

  • Global floating storage
  • Global fundamentals

What's included

This report contains:

  • Document

    Fill baby fill – part II: with floating storage, the tide is turning

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