National fuel security requires absolute transparency
Letter to the Editor
Posted Friday 03 July,2026
The Sydney Times was – to my knowledge – the only paper in Sydney which wrote an article on the Energy Minister’s press conference on fuel
supplies last Saturday, 27th June.
Minister Chris Bowen was asked 2 specific questions from one Journalist:
1. how many Export Finance Australia supported fuel orders have arrived in Australia since the EFA was given new powers in late March?
2. Can you clarify whether a tanker named the Grand Winner Five is sitting off Sydney’s coast is one of those extra orders? And why has it
been stuck offshore for weeks?
The link to the transcript is here:
https://minister.dcceew.gov.au
On the first point, the Minister gave the total volume of orders (800 ML) of which “several” have arrived, a quite imprecise answer.
On the 2nd point, the Minister was “not aware” of that tanker but he said that storage was full and that this is a good sign. Moreover,
waiting tankers were not uncommon.
Well, not for 3 weeks. And checking this morning the website Marinetraffic, it is now 1 month that this tanker is idling offshore.
That is quite costly and will have ultimately to be paid by truckies and passengers. Screenshot attached
The problem with the extra orders is that the Energy Minister failed to number them serially (like tranche 1,2,3 etc)
I have prepared a table (shown above) in which I have given the orders my (arbitrary) numbers in the sequence these orders had been announced.
Tomorrow, The Minister is expected to do his weekly fuel supply update. So we need to watch whether that will include improved answers.
Why is this important?
Because the Strait of Hormuz is not opening as provided in the Memorandum of Understanding but continues to be under the control of Iran’s IRGC which wants to drive up oil prices.
From Rabobank (1/7/26):
“Hormuz traffic is climbing, but refined product prices are lagging, and crack spreads are blowing out: one can’t just look at the oil price to understand the overall energy dynamic. On the geopolitical front, things are also still mixed. Talks about the US-Iran MoU in Doha, without either side speaking to the other, went well according to the US, who are staying on for what could be indirect talks today. However, the Wall Street Journal reports Iran is split, with political leadership focused on getting assets unfrozen and the IRGC on keeping Hormuz more frozen.
Tehran has now rejected third-party offers to help demine the waterway; they are in no hurry to see things return to normal as this removes their energy leverage. Iran is also opposed to allowing the southern passage via Oman, which the US favours, to become established — and there are still reports Oman wants to charge for access to this channel.”
Tomorrow, Minister Bowen should explain:
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Why tanker GRAND WINNER 5 is now stuck for 1 month offshore between Botany Bay and Wollongong.
-
Which extra forward orders have arrived?
This is NOT, as he guessed last Saturday, due to “normal” delays at ports. This tanker was never given a slot in Port Botany after it departed Korea on May 17th.
I am updating tanker arrivals and departures daily:
https://crudeoilpeak.info/tankers-arriving-and-departing-in-sydney
This means the problem started shortly after the departure date and before approaching Sydney.
Why is this important?
If the news of this case without a proper explanation spreads, it may impact future orders when they again become urgent.
I recommend you send a reporter to tomorrow’s press conference.
Signed :
Matt Mushalik (MEng)
Epping 2121
