BIMCO’s Post

Suncor Loads First Cargo on Expanded Trans Mountain Pipeline The expansion offers Canadian producers greater access to U.S. West Coast and Asian markets. Furthermore, tightening supplies of heavy crude have made Canadian oil increasingly attractive to global buyers. Read it here ▶ https://lnkd.in/eJpdGG98 #pipelinejournal #pipelinenews #pipelineindustry #pipelines #Canda #oil

The current S&P activity in the secondhand (SH) crude tanker market has presented a profitable environment for shipowners and builders. An increase in demand, coupled with a sluggish orderbook and limited supply of shipyard space has driven up these prices. However, there are concerns regarding the sustainability of the high SH prices notwithstanding the increase in demand and the shortage of vessels. With the recent spike in charter rates, the SH price to EBITDA ratio has contracted from its 2022 highs. While this may appear justifiable, a recent analysis by Drewry Shipping Consultants Ltd reveals that return on investment (ROI) in a 5-yr-old VLCC may not be lucrative enough to support the investment, casting shadows on the long-term sustainability of current market circumstances. #tankershipping #saleandpurchase #crudeoil #shipping #maritime #analysis #vlcc #oilandgas 📊 Interested in delving deeper? Read the full analysis here 👉 👉 https://lnkd.in/g9ZRX3GZ

In 2024, new #crudeoil #tanker deliveries dropped to a 36-year low as only 17 new tankers, with a capacity of 2.5m deadweight tonnes (DWT), BIMCO

RBN estimates that the recently expanded Trans Mountain Pipeline is flowing near 700 Mb/d of crude since June, below its capacity of 890 Mb/d, and appears to be consistent with crude flow commitments of long term shippers. https://lnkd.in/gENTHD7u

#TRUMP President Donald Trump whom I now label as the Tariff Man and his team's proposal to impose a 20% tariff on Canadian fuels avoid concerns about its potential impact. Canadian fuel production peaked at 4.3 million barrels per day in July 2024. The transportation of Canadian oil to the U.S. heavily relies on three main channels: pipelines to northwest refineries in Washington, pipelines spanning the Midwest to Houston, and transportation via rail and ship to the U.S. East Coast, particularly New Jersey. Recent data highlights the significant influx of Canadian oil (constituting 97% of production) into the U.S. market: - The Transmountain Pipeline delivers up to 498,000 barrels per day to west coast refiners. - The Keystone Pipeline transports approximately 622,000 barrels per day, originating in Alberta and extending through a network of pipelines across the Midwest to Houston. - A combination of rail and maritime transport facilitates the movement of up to 100,000 barrels per day to the U.S. East Coast. #Trump(akaTariffMan) #Canada #Oil #Tariffs

HEAVY OIL SHORTAGE SPELLS HIGHER COST FOR SHIPPERS & ROAD BUILDERS Heavy Oil Shortage Spells Higher Cost for U.S. Shippers, Road Builders https://hubs.la/Q02w1S5T0 Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants. #mexico #oilshortage #oilandgasindustry #oilandgas #energyindustry #canada #output #middleeast #powerplants

Refiners often struggle with inaccurate predictions of fuel blend octane ratings. According to a study by the American Fuel & Petrochemical Manufacturers (AFPM), discrepancies between predicted and actual octane ratings can lead to a giveaway of 0.5 to 1.0 octane numbers, significantly impacting profitability. Canvass AI’s Octane Target Optimization™ solution uses real-time data, is fast to compute, and is highly accurate, helping refiners save millions. Download the paper here. https://lnkd.in/dTTDUB-E

Record demand for tanker construction: almost 100 vessels were ordered in the first quarter of 2023. The trend towards an increase in demand for tankers may be related to an increase in energy trade and a change in the structure of the global market. This also indicates the active development of marine logistics and infrastructure for the transportation of oil and petroleum products.

Crude oil storage tanks are large containers used to store unrefined petroleum, also known as crude oil, before it is transported to refineries or other facilities for processing. These tanks come in various sizes and configurations depending on the volume of oil they are designed to hold and the specific requirements of the storage facility. Here are the key aspects of crude oil storage tanks: Types of Storage Tanks: • Fixed Roof Tanks: These have a permanently attached roof and are commonly used for lower-volatility crude oils. They are the simplest and least expensive type of tank. • Floating Roof Tanks: These tanks have a roof that floats on the surface of the stored liquid, reducing vapor space and minimizing the risk of evaporation losses. They are typically used for higher-volatility crude oils. • Domed External Floating Roof Tanks: These combine the features of floating roof and fixed roof tanks, providing additional protection against weather conditions. • Bullet Tanks: These are cylindrical tanks used for storing smaller volumes of crude oil or liquefied gases under pressure.

Crude oil storage tanks are large containers used to store unrefined petroleum, also known as crude oil, before it is transported to refineries or other facilities for processing. These tanks come in various sizes and configurations depending on the volume of oil they are designed to hold and the specific requirements of the storage facility. Here are the key aspects of crude oil storage tanks: 1. Types of Storage Tanks: • Fixed Roof Tanks: These have a permanently attached roof and are commonly used for lower-volatility crude oils. They are the simplest and least expensive type of tank. • Floating Roof Tanks: These tanks have a roof that floats on the surface of the stored liquid, reducing vapor space and minimizing the risk of evaporation losses. They are typically used for higher-volatility crude oils. • Domed External Floating Roof Tanks: These combine the features of floating roof and fixed roof tanks, providing additional protection against weather conditions. • Bullet Tanks: These are cylindrical tanks used for storing smaller volumes of crude oil or liquefied gases under pressure.