Maritime Union of New Zealand / New Zealand Merchant
Service Guild / Aviation and Marine Engineers Association
joint media release
The outbreak of war in
the Ukraine will have major implications for New Zealand
fuel security, say maritime industry
representatives.
Maritime Union of New Zealand
National Secretary Craig Harrison says global energy markets
have been thrown into turmoil by the outbreak of
war.
He says as well as continuing rises in fuel
prices, the role of Russia as a major oil and gas exporter
meant global supply chains are being hit by another
shock.
In 2021, Russian exports accounted for 5.2% of
global seaborne trade on Tankers (oil and refined oil
products), and 6.0% of global seaborne trade on Liquified
Natural Gas (LNG) Carriers, according to shipping industry
sources.
“The disruption to trade and sanctions on
Russia will have repercussions on the availability, cost and
reliability of overseas fuel tankers coming to New
Zealand.”
Following the announced closure of the
Marsden Point oil refinery, individual petrol companies are
planning to import fuel directly to New Zealand ports on
overseas tankers, removing New Zealand’s two domestic
tankers the MT Matuku and MT Kokako.
Mr Harrison says
New Zealand holds fuel reserves in the form of “tickets”
that in theory guarantee access to overseas fuel
stocks.
He says during the inevitable disruption of
the global tanker market, these reserves might not be easily
accessible.
“The problem is New Zealand is relying
on assumptions and assurances from petrol companies that
look pretty flimsy when you measure them against the current
global situation.”
Oil tanker futures prices in the
April-June period rose by around 20 per cent on major global
routes as the invasion of Ukraine increased the likelihood
of sanctions limiting available tonnage supply and altering
oil trade flows, according to maritime media
reports.
Mr Harrison says the continued use of
dedicated New Zealand crewed and flagged fuel tankers is an
essential part of fuel security in an increasingly volatile
global situation.
“New Zealand fuel tankers provide
guaranteed service, reliability and also can be used to hold
fuel stocks locally.”
Mr Harrison says the Save Our
Tankers campaign has met with Deputy Prime Minister Grant
Robertson and the Minister of Transport and is urging
Government to ensure New Zealand coastal tankers are kept in
service to protect national fuel security.
The
campaign for fuel security Save Our Tankers is comprised of
the Maritime Union of New Zealand representing seafarers,
the New Zealand Merchant Service Guild representing ship’s
masters and officers, and the Aviation and Marine Engineers
Association representing marine engineers.
A new
campaign had been set up to raise awareness of the situation
including the website fuelsecurity.nz
