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Singapore’s Oil Anchor Hub Threatened, Hormuz Gains Crucial Role

Everybody is watching the Strait of Hormuz, but they should also be watching Singapore. The image on the right are all the laden tankers sitting in an around Simgapore. The one in the left, with less ships, are loaded Very Large Crude Carriers. There is usually about 100M barrels of oil at anchor in an around this area daily. This does not include oil that is moving. The disruption from the Persian Gulf is about to hit Singapore as the number of ships coming across the Indian Ocean has been reduced (there are still ships loading from the pipeline at the UAE and the Saudi terminus on the Red Sea. As that pool of ships declines around Singapore (which includes some Dark Fleet ships involved in illegal ship-to-ship transfers) the need to open the Strait of Hormuz increases in importance.