India sends UAE crude cargo to strategic reserves

: Crude oil, Freight
20/04/14

India has diverted a cargo of crude from the UAE to the southwest port of Mangalore to help fill its strategic petroleum reserve (SPR), amid slumping demand from the country's refiners because of the Covid-19 outbreak.

The Suezmax tanker Chafa discharged 1mn bl of Upper Zakum crude at Managlore on 12 April. India's biggest state-controlled refiner IOC initially chartered the vessel on 23 March at a Worldscale (WS) rate of 119 from the UAE to Chennai on India's east coast, with 4-6 April loading dates, shipping fixtures show. But the discharge port was later changed to Mangalore, a shipbroker said.

IOC "is importing crude oil to strengthen India's Strategic Petroleum Reserves while taking advantage of prevailing low crude prices," under the guidance of the oil ministry, IOC director Ranjan Kumar Mohapatra said.

The Indian government is looking to fill its SPR with whatever crude is cheaply available amid falling prices.

India's 39mn bl of SPR capacity comprises 9.7mn bl at Vishakhapatnam, 11mn bl at Mangalore and 18.3mn bl at Padur, all of which are underground rock caverns. Around 40pc of this capacity is available, mostly at Padur.

Mangalore port is applying a 14-day quarantine rule to vessels that have departed from China and other coronavirus-hit regions. Berthing at the port is expected to be delayed for 2-3 days.

By Vivien Gu

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24/12/18

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Houston, 18 December (Argus) — The main chamber of the Wilson Lock in Alabama along the Tennessee River is tentatively scheduled to reopen in four months, according to the US Army Corps of Engineers (Corps). The Corps expects to finish phase two of dewatering repairs on the lock on 20 April, after which navigation can resume through the main chamber of the lock. The timeline for reopening may shift depending on final assessments, the Corps said. Delays at the lock average around 12 days through the auxiliary chamber, according to the Lock Status Report by the Corps. Delays at the lock should wane during year-end holidays but pick up as spring approaches, barge carriers said. The main chamber of the Wilson Lock will have been closed for nearly seven months by the April reopening after closing on 25 September . By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Viewpoint: European tanker rates meander into 2025

24/12/18

Viewpoint: European tanker rates meander into 2025

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US funding bill to allow year-round E15 sales

24/12/18

US funding bill to allow year-round E15 sales

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Argentina touts quarterly economic growth

24/12/17

Argentina touts quarterly economic growth

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Alabama lock to remain closed until spring

24/12/17

Alabama lock to remain closed until spring

Houston, 17 December (Argus) — The US Army Corps of Engineers (Corps) has determined that the main chamber of the Wilson Lock on the Tennessee River near Florence, Alabama, will remain closed until spring 2025 as repairs continue. The Wilson Lock, the first lock on the Tennessee River, closed on 25 September after cracks in the lock gates on both the land and river sides were discovered. The main lock was closed to prevent further damage in the main chamber, although the auxiliary chamber was kept open for navigation. The Corps had been eyeing an earlier opening date for the main chamber since the start of November. Although months of repairs have taken place, the Corps resolved to keep the main chamber closed to preserve the lock and maintain personnel safety. The Corps, in partnership with the Tennessee Valley Authority (TVA), is still assessing the root cause of the cracking. A second de-watering of the gate is scheduled for the first three months of 2025 to repairs. No official date has been set for the lock reopening, although some barge carriers have heard of a late April opening date. A regular 15 barge tow has endured 5-6 days of delay through the lock on average, according to carriers. The Corps' Lock Status Report on the Wilson Lock reported a nearly two-week delay for tows navigating through the lock. This has been costly for shippers by forcing them to pay delay fees. Wilson Lock is the second lock in Alabama to undergo a lengthy closure this year. Most lock and dams along the US river system are over 70 years old, likely resulting in more closures in the coming year. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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