8chan/8kun QResearch Posts (2)
#8991794 at 2020-05-01 22:51:27 (UTC+1)
Q Research General #11509: It's Early Mid Afternoon, Somewhere? Edition
>>8991530
Oil Traders Now Hiring Jones Act Tankers for Storage and Shipping Abroad
April 27, 2020 by Reuters
By Jonathan Saul and Devika Krishna Kumar LONDON/NEW YORK April 27 (Reuters) - Oil traders are hiring expensive U.S. vessels, normally only used for domestic shipments, to store gasoline or ship fuel overseas, five shipping sources said, in a sign of the energy industry's desperation for places to park petroleum amid a 30% drop in worldwide demand.
Billions of people worldwide are living under confinement rules due to the coronavirus pandemic, destroying demand for gasoline and other fuels and creating a supply glut. Storage tanks onshore and floating storage in tankers on the water are rapidly filling, leaving fewer options for traders looking to sock away oil.
Several shippers said they have started to book Jones Act (JA) vessels for foreign voyages or to store refined products. The century-old Jones Act requires that vessels traveling between domestic ports be owned and operated by U.S. crews, and they are generally more expensive than other vessels.
"It's very unusual to use JA tankers for international trips," one shipping source said.
Those restrictions, and lack of availability, typically make the tankers more expensive than foreign-flagged vessels that go to other countries. Around 45 products tankers are JA compliant, shipping data reviewed by Reuters showed.
Rates for foreign-flagged fuel tankers such as medium-range and long-range vessels leaving from the United States have jumped to about $60,000 and a record $100,000 a day, compared with Jones Act medium-range tanker rates of about $55,000 to$70,000 a day, the sources said.
Refiner Motiva Enterprises is among companies looking to potentially charter a Jones Act vessel for an overseas voyage, shipping sources said.
Motiva did not immediately respond to a request for comment.
Inventories of gasoline in the United States have surged to a record and U.S. refiners are operating at about two-thirds of capacity. Roughly 85% of worldwide onshore storage was full as of last week, according to Kpler data.
"The Jones Act sector is mirroring what we are seeing with the wider oil tanker market with a surge in demand for tankers as refiners can't sell gasoline or oil products. Utilization of Jones Act tankers is at 100%," said Basil Karatzas of New York-based shipping finance advisory firm Karatzas Marine Advisors & Co, which is active in the Jones Act market.
He said some older JA tankers that had been planned to be scrapped may end up being used as storage.
Long-range tankers can carry between 345,000 barrels and 615,000 barrels of gasoline or between 310,000 barrels and 550,000 barrels of light sweet crude.
Jones Act tankers usually are employed under time charters for over a period of a year. (Reporting by Devika Krishna Kumar in New York and Jonathan Saul in London; Editing by Franklin Paul and Leslie Adler)
(c) Copyright Thomson Reuters 2019
https://gcaptain.com/oil-traders-now-hiring-jones-act-tankers-for-storage-and-shipping-abroad/
#8527569 at 2020-03-23 05:55:54 (UTC+1)
Q Research General #10918: Late Night Shit Post Special Edition
>>8527567
Resignations in the news 3/19/2020 thru 3/22/2020 - part 2
Jefferson County District Attorney Happ resigns, effective April 24
https://www.dailyunion.com/news/d-a-happ-to-resign-effective-april/article_f355626c-faec-5a5f-9b21-b8f2ff192ef4.html
Robb Bank$ On 'Falconia,' And Why He's Retiring
https://www.vibe.com/2020/03/robb-banks-feature
Placido Domingo Resigns From Opera Union, Donates $500,000
https://www.usnews.com/news/us/articles/2020-03-20/placido-domingo-resigns-from-opera-union-donates-500-000
Neely resigns as city manager
https://www.examiner-enterprise.com/news/20200319/neely-resigns-as-city-manager
Union Bank announces resignation of 2 executive directors, appoints new ones
https://nairametrics.com/2020/03/21/union-bank-announces-resignation-of-2-executive-directors-appoints-new-ones/
3 prosecutors resign amid probe into free Utah Jazz tickets provided by defense lawyer
https://www.abajournal.com/news/article/3-prosecutors-resign-amid-probe-into-free-utah-jazz-tickets-provided-by-defense-lawyer
Florida Tech's provost resigns
http://crimson.fit.edu/?p=1444
Kerr Jarrga Councillor Resigns From His Position
https://foroyaa.gm/kerr-jarrga-councillor-resigns-from-his-position/
IL&FS PE chief executive Krishna Kumar resigns
https://www.vccircle.com/il-fs-pe-chief-executive-Krishna-Kumar-resigns
Edmund Ackah Confirms Resignation From Position As Kotoko's Accra Rep
https://www.modernghana.com/sports/990286/edmund-ackah-confirms-resignation-from-position.html
Ringgold superintendent abruptly resigns
https://observer-reporter.com/news/localnews/ringgold-superintendent-abruptly-resigns/article_0db3909a-6ad1-11ea-b95e-b38bb1eca104.html
Ecuadorian Ministers of Health, Labour Resign After COVID-19 Cases Go Beyond 500
https://sputniknews.com/latam/202003221078664109-ecuadorian-ministers-of-health-labour-resign-after-covid-19-cases-go-beyond-500/
Hurunui Deputy Mayor Resigns
https://www.scoop.co.nz/stories/AK2003/S00411/hurunui-deputy-mayor-resigns.htm
Newport Craft co-founder resigns
https://www.newportri.com/news/20200322/newport-craft-co-founder-resigns
University of Texas President Vistasp Karbhari Resigns Amid Reports of a Probe Into an Admissions Scandal
https://indianewengland.com/2020/03/university-of-texas-president-vistasp-karbhari-resigns-amid-reports-of-a-probe-into-an-admissions-scandal/
Orin Engelhardt announces resignation from Fairhaven Township supervisor role
https://www.michigansthumb.com/news/article/Orin-Engelhardt-announces-resignation-from-15146282.php
Czech museum director fired
https://jewishnews.timesofisrael.com/czech-museum-director-fired/
North Topsail Beach Mayor resigns following legal battle over election
https://www.witn.com/content/news/North-Topsail-Beach-Mayor-resigns-following-legal-battle-over-election-568977471.html
Monroe County Legislator John Lightfoot resigns
https://www.rochestercitynewspaper.com/rochester/monroe-county-legislator-john-lightfoot-resigns/Content?oid=11569661
Lincoln Consolidated Schools superintendent resigns after mysterious leave
https://www.mlive.com/news/ann-arbor/2020/03/lincoln-consolidated-schools-superintendent-resigns-after-mysterious-leave.html?outputType=amp
Greenville firefighter fired after deputies charge him with multiple child sex crimes, officials confirm
https://www.foxcarolina.com/news/greenville-firefighter-fired-after-deputies-charge-him-with-multiple-child/article_1d39a6c8-6a1b-11ea-a35f-2bb22e137af6.html