South Africa’s state-owned oil company is looking to fix its energy problems by chartering in tankers to store diesel.
PetroSA needs vessels as part of a drive to ensure there is enough supply to run generators and reduce power cuts that are harming the economy.
South Africa does not have sufficient tank capacity onshore.
A letter sent by PetroSA to stakeholders and seen by Bloomberg reads: “As there is limited storage, PetroSA has taken a process of using floating tankers to ensure that product is readily available as and when required according to forecasts as agreed with Eskom.”
Eskom Holdings is a state-owned utility whose coal plants have been suffering breakdowns, Bloomberg reported.
PetroSA said four tankers have been designated to deliver diesel “to supply key customers”, as well as a ship carrying petrol.
There were six tankers off Mossel Bay in the south of the country on Friday, according to ship-tracking data compiled by Bloomberg.
AIS data showed four vessels at anchorage in the bay on Monday.
Eastern Pacific Shipping’s 50,000-dwt Pacific Kohinoor (built 2021) arrived on 3 October. Stena Bulk’s 49,700-dwt Stena Imprimis (built 2017) and the 49,800-dwt Navig8 Gallantry (built 2019), controlled by Navig8 Group, arrived on 4 October.
On 13 October, they were joined by the 50,000-dwt Scorpio Tankers-controlled STI Black Hawk (built 2015).
Eskom has not commented on the matter. It spent more than $1bn on diesel in the year to 31 March, more than double the outlay during the previous year.
