Stunning Satellite Images Of The Global Tanker Oil Glut

Tyler Durden's picture

One week ago, we showed the latest MarineTraffic update of the unprecedented congestion of crude oil tankers located off the coast of Singapore, together with an extended analysis of what is causing this and what are the implications.

 

 

Today, we'll spare readers the ongoing analysis - which hasn't changed - and instead present the following dramatic satellite images just released from Reuters, showing "huge traffic jams of tankers which have formed around the world with some 200 million barrels of oil either waiting to be loaded or delivered as ports struggle to cope with record volumes in perhaps the most visible sign of the global oil glut."

Almost all of the over 660 Very Large Crude Carriers (VLCCs), the largest tankers in use to transport seaborne oil, are used to ship crude between the Middle East and Asia’s consumption hubs around India and the Far East. The map above shows all of these super tankers in operation on April 11.

Waiting in line: Each orange symbol below represents a parked large crude tanker. Ships in transit are not shown.

The exporters

Importers


SINGAPORE AND SOUTHERN MALAYSIA

Almost all tankers going to the Far East pass through Singapore, the world’s petrol station for tankers (bunker fuels) and also a global refinery and ship maintenance hub. In a reminder that the oil glut is still far from over, there are now dozens of large tankers full of unsold crude anchored offshore. New vessels are even hired as floating storage as excess supply needs storage and facilities operate at or near capacity.

A broader view of congestion.

Here's another look at Singapore. This time showing moving and stationary vessels of all types. Tankers here have to jostle for space in congested waters around the port

 

How busy can it get?
To see just how congested some shipping lanes can become, look no further than the world's busiest port, Shanghai. Hundreds of bulk carriers form highways up and down the Yangtze River to dock at various locations.

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SomethingSomethingDarkSide's picture

Print moar tankers, Yellen, you cheap cunt

Dormouse's picture

Those are not "satellite images", they are ship locations plotted on Google Earth composite data sets from high altitude aircraft. You can tell it's not a photograph because it looks like a cartoon.

Backin2006's picture

Is it just me, or is this ZH redesign a little hamfisted?

Some suggestions, in case anyone from management reads these comments:

* The menu should be fixed to the top of the page as before.

* Not all the expandable right sidebar buttons work.

* The margins between the sidebars and main section are non-existent.

* Votes still doesn't work.

* Would be great to reply to comments without opening a new page.

(All using Firefox, Windows (for my sins))

Backin2006's picture

Oh and this weird little blue window pops up with you upvote people.

HeadintheGame's picture

Maybe it has to do with the gazillion scripts running on ZH.  I think the total is 14.  Always nice to be a total target for adv.  Yeah, yeah, I know, I don't have to vist the page.

Justin Case's picture

My peer block never stops trying to contact other IP addresses while I'm just reading. Is that the NSA? lol

peddling-fiction's picture

The cheapo version of SSL costs 10 bucks a year. But then you would make the intelligence agencies work a bit harder. We would not want to hinder their work. Right?

Dormouse's picture

I hate these Mobile sites, they suck. Where is the link to revert back to desktop?

Zero-Hegemon's picture

Hoping it's just the Tylers that bought some O'Reilly books and taught themselves some web design and scripting skills, because I don't want to think about how much they might have been charged by a "professional" for this new design.

Mr. Ed's picture

THIS WEBPAGE IS COMPLETELY SCREWED UP... IT LOOKS LIKE IT'S BEEN HACKED.  IF YOU TWO TYLERS PAID SOMEONE TO DO THIS, ALL I CAN SAY IS WHY???????

WHAT WAS WRONG WITH THE OLD DESIGN?  I MEAN REALLY - WHAT WAS WRONG WITH IT?  THE COMMENT SECTION INDENT WAS TOO LARGE, BUT OTHER THAT... WHAT WRONG WITH IT?  WHY?  WHY?  WHY?

THE DESIGN WAS PERFECTLY LOGICAL... AND CHANGE WON'T IMPROVE THE CONTENT -  NO NEED TO IMPROVE THE CONTENT, IT'S JUST FINE.

Peanut Butter Engineer's picture

Original layout isn't suitable for mobile browsers. It just suck when comments replying additional comments just stack up and indent into one single letter. So yes this layout is better for mobile browser.

agNau's picture

Got a sweet deal from some guy named Slavitt claims to have created the "healthcare.gov" site.
My ZEROHEDGE experience is cheaper now!

Dr. Spin's picture

Also, move the login box back up to the top of the frame and make the avatars 60x60.

Tnx,,,

;-D

Reichstag Fire Dept.'s picture

Mine works perfectly now! I have a Mac and it was hard (or impossible) to watch video under the old format. The videos were partially hidden behind sidebar menus or ads. Sometimes the play button was obscured and the video could not be started.

Also, the ZH web version works much better on my Android phone now. I see the ZH phone App isn't working at the moment...is that no longer a "thing"?

peddling-fiction's picture

Exactomundo Dormouse. But somebody will bitch and cry that the originals do come from the heavens. <chuckle>

SoilMyselfRotten's picture

Well, maybe, howz bout a comparative satellite image from say 1 or 2 years ago and we'd get a better idea just how backed up they are compared to normal.

Mugabe's picture

Maybe a little of this would help

 

Oral osmotics (Milk of Magnesia, Miralax) Draw water into the colon from surrounding body tissues to allow easier passage of stool
Canadian Dirtlump's picture

I hate thinking like this but I've had a nagging thought that a real or false flag attack on oil storage would be a very convenient and therefore possible move to ignite something. Be it war or chaos or both.

 

When I see this shit I just shudder imagining a maritime disaster.

SoilMyselfRotten's picture

Yah CDL, was wondering what the aftermath of a tsunami in those waters would like like, yikes.

D-2's picture

I think that ships in open water might feel a little swell, those in port will take the brunt.

Four chan's picture

so we are stuck with this format? its bad imo.

krispkritter's picture

I thought shipping had tanked?

Mr Pink's picture

It did. I rented half of these VLCCs for a few $.....chicks dig oil tankers

SoilMyselfRotten's picture

..ias long as they're loaded

peddling-fiction's picture

rapefugees love them even more...

Canadian Dirtlump's picture

Close. Shipping didn't tank. Tanking Shipped.

sun tzu's picture

Baltic Dry Index tanked. Oil is not dry. How many times does that have to be explained?

balz's picture

Why is oil still at 50$ then?

1stepcloser's picture

same reason silver is at $15 and change.  manipulation

Colonel's picture

Yep, manipulating supply and demand by tying up all the tankers offshore. But the banksters can't keep it up forever.

Ink Pusher's picture

Q. "Why is oil still at 50$ then?"

A. "There's a sucker born every minute."

Today's actual trade values do not reflect reality. Hyper inflated by speculation driven by desperation.This is exactly the type of scenario that presents more volatility and heightens the probability actual phyiscal disasters such as oil spills. 

"huge traffic jams of tankers which have formed around the world with some 200 million barrels of oil either waiting to be loaded or delivered as ports struggle to cope with record volumes in perhaps the most visible sign of the global oil glut."

 

My prediction : When ARES Technology gets the nod, kiss oil goodbye and close the coffin lid. Anyone still investing in oil will soon suffer the same fate as the dinosaurs. 


Tall Tom's picture

That is a Paper Oil Price.

 

To increase the priceof an Oil Contract one just merely decreasesthe amunt of Futures Contracts available for sale.

 

There is much more Deliverable Physical Oil available than the Paper Contracts offered on the Future's Market.

 

It is the opposite of the Gold Market where there is many more Future's Contract's offered for the Physical amount of Deliverable.

Graph's picture

When very small group of "Job Creators" (heavily endorsed by the ZH "free market" entrepeneurial "class") are in charge and control of vital commodity shit happens.

Elite ensured that wacky idea that such a commodity should benefit people of the land falls squarely on Marx / communism /socialism and pretend that likes of Henry George had never existed and God forbid Googled.

sun tzu's picture

Only a moron would consider the federal reserve to be job creators. The real job creators start businesses and produce goods that are needed and wanted. They are evil people according to the leftists

Graph's picture

Chick @ bachelorette party was just to slip $100 in your crotch and you decided to pound the keyboard.

Buster Cherry's picture

Was in Galveston yesterday and the wife commented about the tankers anchored off the beach. I told her it's the new normal.

just the tip's picture

i drove past a chesapeake district office yesterday in SE okieland.  parking lot had two company pickup trucks.  the new normal.

RockySpears's picture

Those Tankers could be full of Koreans, with tanks and stuff.

Invasion imminent!

 

RS

thisguyoverhere's picture

How did you like Galveston? It is a strange place, stay a bit longer and grab a drink at the Voodoo Lounge.

Buster Cherry's picture

been going there since 1965.

I use the Galveston Jetties as an example for debunking the idea of rising sea levels. After fishing around them for 50 years, they are still very much visible.

SixIsNinE's picture

exactly - that can be repeated all over the world ...

however, i did see a doc the other day noting how much quality sand is required by humans to make our concrete structures - every year 15 billion tons of the good stuff ...
that results in some areas having changed beaches/seasides and the liars can claim sea level change due to AGW ...
https://www.youtube.com/watch?v=nu6zLNpGUG0

CHX's picture

Baltic full index... ?!?!