Wishing everyone a very Merry Christmas – many offices will be closed for 24th and 25th December, so ensure all orders are booked promptly.
Last week was a firm week on the back of an improving situation with more Covid vaccinations being rolled out. However, on Friday the Rig count in the US showed a further increase in the number of rigs operational and then over the weekend the UK announced a variant of the virus which is much more virulent than the normal virus and borders are being closed throughout the day causing crude prices to nose-dive this morning, European time, but recovered a little by the close.
Singapore is tight for supplies up to a week to ten days out depending on suppliers. Korea and other Asian ports also looming about a week out as owners have booked already for the festive period and some suppliers reducing stocks in the run up to the New Year. South Africa and Port Louis very tight on avails of product. NWE also tightening up on avails and Med ports looking 5-6days out. Many suppliers in Houston are becoming tight/congested through next week. Avails in Panama are good with suppliers needing about a week notice. Long Beach is seeing congested through the end of December.
*Please note that due to the holiday, there will not be a Mid-Week report.