Christos Krigkou - Vortexa

Christos Krigkou

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Christos Krigkou

Christos is an Associate Data Analyst at Vortexa, working closely with the Market Intelligence & Analytics Team. By supporting research and analysis tasks related to crude flows and using internal tools and processes, he helps maintain data quality, spot market trends and, draw key insights.
Christos holds an MSc in Chemistry from Imperial College London.

Interests:

Data analysis
Global crude flows and inventories
Sanctioned trade flows

November 30, 2023

Russia’s fuel oil exports see tougher…

Russia's fuel oil exports are facing growing headwinds as more Middle East and West of Suez supplies head towards Asia.

November 28, 2023

European jet/kero demand remains strong while…

As jet/kero import demand surges in Europe, we take a look at the dominant origins of resupply and what it could mean for the…

November 23, 2023

Saudi crude exports recovery continues as…

Saudi Arabia's crude exports in November have continued to rise m-o-m following a slump in August, but refined products exports have fallen to multi-year…

November 21, 2023

Uncertainty for MRs migrating to the…

Incentives for MRs to migrate East-to-West are currently high, but a mixed outlook in the Atlantic Basin due to weak product export demand awaits,…

November 16, 2023

Limited seaborne trade volumes raise questions…

In this big picture analysis, we look at recent indicators of stagnating seaborne flows, questioning healthy demand projection, while freight rates benefit from long-haul…

November 10, 2023

Demand indicators point to a clean…

Recent demand indicators point to a recent slow down in Atlantic Basin clean product demand, in this insight we explore the regions underpinning the…

November 07, 2023

Harmonizing Avro and Python: A Dance…

In the realm of data engineering, managing data types and schemas efficiently is of paramount importance. The crux of the matter? When data schemas…

November 07, 2023

Atlantic Basin driving high Suezmax performance…

Despite average voyage mileage reaching a 2023 low, a record-setting number of voyages and high tanker demand from West Africa was enough for Suezmax…

November 02, 2023

China’s crude demand takes a hit…

China's PMI fell below the critical 50% in October. In this blog, we will review the signs of weakening crude demand.

October 31, 2023

Medium and heavy crudes highlight Americas…

Americas emerge as the marginal supplier in a tight global crude market with medium and heavy grades from the region in the limelight.

October 25, 2023

Gasoline cracks poised for a bounce…

Global gasoline cracks are showing signs of stabilising and a supply-demand rebalancing could drive a rebound in cracks.

October 25, 2023

Mocking in Async Rust

There are four words in this title, and most of them deserve some kind of explanation. Let us set the scene first and look…

October 19, 2023

Crude tanker fundamentals signal short-term support,…

Recent increases in crude tanker rates may signal the end of the dire straits of Q3, but despite bright spots in the Atlantic Basin…

October 17, 2023

Will US product exports continue at…

As refining margins in the US fall, we explore whether product exports will be able to continue their current momentum

October 16, 2023

Exclusive LPG Report: A reshaping of…

Global LPG trade is increasingly being challenged by the effects of El Niño. A mild winter in Europe and East Asia as well as…

October 12, 2023

Turkish diesel exports soar

Turkey’s seaborne diesel/gasoil exports are soaring well above the historical range, in this insight we look at where the exports are going and the…

October 10, 2023

When crude oil futures are not…

We try to shed some light into the recent selloff in crude oil at a time of rising geopolitical risks. Ample seaborne product supplies…

October 06, 2023

Will China boost diesel exports without…

We review the possibility of China raising diesel exports in light of Russia’s export ban and a lack of a fourth batch of export…

October 04, 2023

Prolonged Russian export ban triggers downside…

As Russia reportedly attempts to implement control on its own volumes by cutting diesel and gasoline exports, up to 90 MRs could scramble for…

September 28, 2023

Russian diesel export ban’ s wider…

We review the latest trends in seaborne diesel exports in light of the recent announcement to ban certain Russian product exports.

September 26, 2023

Event highlights: Innovation Series Houston

Highlights from our Innovation Series Houston event.

September 21, 2023

Event highlights: Innovation Series New York

Highlights from our Innovation Series New York event.

September 21, 2023

Is there light at the end…

As crude tanker rates reach new lows for 2023, we drill down into the drivers behind this, how this has shifted dynamics within the…

September 20, 2023

How Iranian oil is used in…

We shed light on the flows of Iranian oil into Chinese refineries and tanks, debunking the story of SPR fills.

September 14, 2023

Global crude supplies curbed by Saudi…

Global seaborne crude loadings fell by almost 1mbd m-o-m in August, driven by a sharp decline in Saudi Arabia’s crude loadings. Meanwhile, global crude…

September 13, 2023

Demand for US crude may stall

Early September data suggests US crude exports have hit headwinds in Asian markets with some upside still expected from Europe

September 11, 2023

Exclusive Report: Crude flows & stocks…

This report provides a detailed insight into the current state of the global crude markets, looking at supply tightness and robust demand reflected from…

September 07, 2023

Full impact of Saudi-led cuts yet…

Saudi crude exports have been cut drastically in August, and a continuation over coming months threatens to tighten the market substantially, even without noticeable…

August 30, 2023

Panama canal congestion drives change in…

As the drought in Panama limits capacity for moving tankers through the Panama canal, our freight team investigates the immediate and future implications for…

August 25, 2023

On- and offshore crude oil inventory…

OPEC+ cut efforts combined with more resilient demand than most think are leading to a steep drop in crude oil stocks in onshore tanks…

August 23, 2023

Exploring the forces behind the weakness…

A cocktail of rangebound demand, affected by steady LPG+ substitution, and reasonably ample supplies makes naphtha lose out in relative product pricing.

August 17, 2023

Fleet constraints more likely for Russian…

Elevated Russian CPP exports and rising product prices could mean constraints on the fleet lifting Russian CPP.

August 16, 2023

Global imports of Saudi crude recovering…

Global imports of Saudi crude grades are showing signs of recovery in August, after hitting fresh lows last month. The quick swing in import…

August 10, 2023

Fleet constraints unlikely despite Urals price…

Lower Russian crude exports mean constraints on the fleet trading Russian crude look unlikely despite the Urals price increase.

August 08, 2023

China crude imports wane amid high…

China’s crude imports registered a massive m-o-m decline in July, as top refiners were sensitive to recent price hikes on the back of record…

August 04, 2023

Maximum-likelihood classification with a constraint on…

In supervised classification problems, predictions are usually generated for each sample independently of the others.

August 03, 2023

Global crude imports recover in July…

Global crude/condensate imports recovered on a m-o-m basis in July, reinforcing the view that global crude supply and demand balances will tighten over the…

August 01, 2023

Clean product margins strengthen despite the…

In this insight we explore the current support behind global clean product margins, focusing on global gasoline and diesel trade flow dynamics.

LR2 rates reach pre-war levels as…

Demand for Russian residual fuel oil…

Russia's residual fuel oil is increasingly coveted amid a tightening global HSFO market with Middle East importing the largest share.

Global crude/condensate flows are showing signs…

Global crude/condensate exports are showing signs of slowdown in July while China continues to build stocks keeping imports robust.

Falling Chinese crude demand puts pressure…

In this insight we provide an update on the current decline in crude tanker demand across the board. We drill down to identify the…

Global crude market faces contrasting quality…

In this insight we explore some of the factors driving unusually high premia of medium-heavy sour vs light-sweet crude.

LatAm gasoline and diesel markets diversify…

Despite the panic buying in late 2022 triggered by diesel shortage fears due to the impending EU ban on Russian clean product imports, the…

China boosts crude stockpiles following second…

China’s June crude imports surprisingly came at 3-year highs, despite heavy refinery turnarounds. Has oil demand indeed ballooned?

Global jet fuel demand takes-off but…

Major aviation hubs across the world have seen continued recovery in air travels this year but a full rebound back to pre-Covid levels could…

Will the recent strength in seaborne…

As gasoline imports into the North America East Coast head for a two year high in June, we take a reality check on what…

Saudi crude accumulating off Red Sea

Saudi Arabian crude oil is accumulating off Egypt’s Red Sea coast – an unusual market development and one to watch closely as the country…

Transatlantic flows are the shining light…

Diesel is moving again eastwards

Four months ago marked the beginning of major diesel global trade flow reshuffling. We explore how market concerns have been alleviated and how diesel…

Saudi Leads “Big Three” Cutting Crude…

In this insight we explore how the top three global crude suppliers are lowering exports in May and what that means for global oil…

Asia’s refining margins rebound but how…

Asia's refining margins are firming somewhat but competition from new Middle East and African refineries could limit any strength.

The Atlantic Basin’s increasingly important role…

As diesel imports surge into West Africa, we take a look at the growing Russian share and explore flows moving to LatAm after STS…

Are VLCCs making use of triangulation…

VLCC demand has grown in the last few months. In this insight, we investigate whether this has sparked a change in VLCC tanker behaviour,…

China’s crude imports disappoint. Is a…

China’s April oil import figures have declined from March’s peak, along with other economic signals. Has the market been overoptimistic on China’s recovery?

Will strong Atlantic Basin exports continue…

Atlantic basin exports of crude and products are showing signs of a slowdown after two exceptionally strong months

Could weak refined product demand signal…

Falling product margins, historically high diesel exports and lower crude supplies, what does it mean for refineries?

Have CPP rates reached an inflection…

What are the current pillars of CPP tankers and how strongly will they support rates for the remainder of the year?

The oil market battle: bullish crude…

Exclusive Report: The fleet operating in…

Access the exclusive new report, "The fleet operating in opaque markets" which looks in-depth into the tankers operating in tier 2 and 3 and…

Key takeaways from Vortexa Insights Connect

On 13 April, Vortexa brought professionals in the energy industry together to discuss the key dynamics driving the global energy market

Tanker fleet profile for Russian oil…

The tanker fleet engaged in the Russian trade post-sanctions is predominantly Greek-operated and composed mostly of older Aframax and MR tankers.

Will the surprise OPEC+ cuts affect…

Imports of sour crudes remain strong especially in Asia while surprise cuts from OPEC+ members could open the doors for other suppliers in a…

Russian diesel exports climb to a…

Russia diesel exports surge in March, rising both from the Baltic and Black Sea. Will volumes continue to rise?

Time to get bullish again on…

Numerous structural and seasonal factors are pointing to higher crude prices in the coming months, and onshore crude inventories are already drawing right now.

Russian reshuffling and rising transatlantic demand…

MR freight rates have shown stability in March after seeing large swings earlier this year. In this insight, our freight team examines how reshuffling…

Europe’s light distillate imports from alternative…

Will the loss of Russian naphtha and gasoline blending components make gasoline production in Europe difficult from a blending perspective or will Europe continue…

Global oil flows data in March…

In this insight, we explore how recent trends in seaborne global oil flows support the wider macro-driven sell-off across oil prices.

Russia’s naphtha: Where’s next after the…

Russia's naphtha exports have nosedived post the EU ban amid limited alternative markets and challenging fundamentals.

LPG Special Report – From winter…

Access our exclusive LPG report, compiled using Vortexa's proprietary data, looking in-depth at LPG global market dynamics. This report answers the question of LPG…

Russian diesel increases towards Turkey for…

Turkey’s Russian seaborne diesel/gasoil imports hit record highs in February as Russian barrels continue to muscle in and redistribute European energy flows.

Will China lean more on Russian…

China’s crude oil imports from Russia are set to pick up to a new record in March. Will the momentum continue as China’s fuel…

February 27, 2023

US LPG exports to Asia surge,…

US LPG exports to Asia are surging to a multi-year high in February but incremental supplies are not likely heading to China amid ample…

February 24, 2023

Smooth sailing for Russian CPP in…

What are the first lessons we see in the CPP market following the EU import ban on Russian products?

February 16, 2023

LSFO outlook tightens on recovering gasoline…

An early rally in global gasoline markets recently is fueling expectations of tightening low-sulphur fuel oil (LSFO) supplies, keeping prices for the residual fuel…

February 08, 2023

Light distillates come into focus

The massive shifts away from light distillates production and trade toward middle distillates during 2022 and into 2023 could provide support for light distillates…

February 02, 2023

Clean tankers seeking stability after a…

Clean tanker markets have seen a freight rate decline across the board so far this year despite strong momentum in late 2022. Our freight…

January 31, 2023

Will Russia struggle to find new…

We review the trends in Russian diesel, crude and other products for exports, imports and oil on the water, singling out factors that define…

January 24, 2023

Favorable tailwinds developing for US seaborne…

US crude exports are expected to remain strong, as indications of demand from refiners in Asia surface along with the existing pull from Europe.

January 19, 2023

Russia overcomes EU ban with record-high…

Russia exported record-high volumes of crude to India in 1H January, facilitated by tonnage supply from existing and incumbent shipowners.

January 18, 2023

Rising global diesel exports ease diesel…

As Europe secures alternative supplies of non-Russian diesel, Russian flows rise towards non-EU destinations

January 12, 2023

Exclusive report: Iranian crude & condensate…

What were the highs and lows of 2022 for Iranian crude & condensate exports? Download our exclusive report with insights derived by our expert…

January 11, 2023

China’s oil quotas strike balance between…

China's recent allocation of oil quotas signals Beijing's intention to accelerate economic recovery whilst sticking to its longer-term goal of controlling emissions.

January 10, 2023

Massive global product exports herald easing…

World product exports have been surging over the last two months, pointing to ample refining capacity and easing supply pressure. Whether the demand is…

December 22, 2022

Crude Tankers: 3-tier fleet reveals itself…

What are the first signs of the tanker profiles that have surfaced in the transportation of Russian crude post-EU sanctions?

December 20, 2022

What does 2023 hold for the…

2023 is shaping up to be a tough year for the oil market but China's re-opening could cushion the global demand slowdown in the…

December 13, 2022

US buyers replace Russian residual fuel…

US buyers have managed to replace Russian residual fuel imports with barrels from Mexico and Middle East to run their secondary units hard.

December 05, 2022

China’s crude imports to slow down…

China's crude imports are on-track to achieve steady rise till the end of the year. But will the upbeat momentum last into the new…

November 24, 2022

LPG’s demand recovery faces tough headwinds

LPG's much anticipated demand recovery has arrived but soaring tanker rates and weak petrochemical demand are capping the pace of recovery.

November 23, 2022

Q&A: Russian EU sanctions and shipping…

As we approach the 5th December deadline, we are attempting to shed light on 10 key questions and distil the determinants that could influence…

November 17, 2022

Mid-Q4 2022 Freight Market Review

While the crude tanker market continues its rally and the clean market lags, Russia’s approach to the oil price cap will shape freight rates…

November 16, 2022

Global diesel pricing – bull or…

While a flood of East of Suez diesel imports has improved Europe’s positioning for the upcoming winter, Russia-Europe flows are rising again ahead of…

November 10, 2022

The shipping logistics behind reshuffling Russian…

Russian crude exports are having to travel farther as the country redirects flows to “friendly” nations. In this insight, we assess the implications for…

November 01, 2022

US clean product flows mixed amid…

October data suggests a slowing of of clean product flows even as diesel cracks remain strong and PADD 1 distillate stocks fall below average

October 27, 2022

Asia’s appetite for Russian fuel oil…

Global fuel oil markets are undergoing a major structural shift as Russia, the world's top exporter of residual fuels, seeks alternative outlets for its…

October 25, 2022

The gap between diesel and light…

Vortexa trade flow data shows a consistent trend over recent months of rising diesel and falling light distillate imports. That is particularly true for…

October 21, 2022

Vortexa Global Webinar: Key highlights

Vortexa’s analysts hosted a Global Webinar on 20 October offering their views on leading questions from the industry.

October 06, 2022

EU shipping ban to be the…

As the EU policies against Russia loom, we explore the the impact of trade flows reshuffling and the EU shipping ban on freight markets.

September 27, 2022

Falling CPC Blend loadings weigh upon…

In this insight we explore the latest trends with CPC Blend loadings and its impact upon crude supply in the wider Black and Capsian…

September 22, 2022

China to issue a massive batch…

Market discussions that China could be issuing up to 15mt of additional clean product export quotas for the remainder of this year have sent…

September 22, 2022

China’s comeback lifts VLCCs, recent announcements…

China’s rebound in purchasing amid a much more ample global crude market lifts VLCC rates across all fronts, with much higher anticipated clean product…

September 15, 2022

Key takeaways from Energy Day at…

On 14 September, together with our partners from Rystad Energy and Argus Media, we showed over 150 slides to our highly engaged audience (thank…

September 13, 2022

Slowing fuel demand takes its toll…

A slowing fuel demand amidst global recessionary fears has impacted US crude/condensate flows taking August imports to 4-month lows.

September 12, 2022

Iran Special Report: The difficulties of…

Explore the dynamics of Iranian crude/condensate exports so far this year, with highlights of onshore inventories and freight shipping markets.

September 06, 2022

Clean tankers: LR2s in a position…

Russia’s invasion of Ukraine has shifted diesel trade patterns and the clean tanker segment, but LR2s seem to be in a strong stance.

September 01, 2022

What goes up, must come down.…

Low sulphur fuel oil (LSFO) prices have traded lower in August, coming a long way down from previous record highs but upside risks prevail…

August 25, 2022

Crude Tankers: Russian Invasion sets the…

Russian-Ukranian conflict managed to shift the crude tanker trade patterns, however Chinese purchasing activity is and will remain a barometer for tanker recovery.

August 18, 2022

Are China’s crude imports on a…

China’s refining industry has been languishing amidst sluggish demand and thin margins since March. Is a long-awaited recovery in sight?

August 16, 2022

LatAm crude/condensates exports slow in August…

Latin American crude/condensates exports are showing signs of a slowdown in August as high diesel cracks divert more crude to domestic refineries.

August 04, 2022

Europe’s crude tastes could leave Suezmax…

What is the current state of the Suezmax tanker market and how European appetite and regulation could shape the future?

New realities are emerging for CPP…

How is CPP tanker demand shaping up in Q3 2022 and what does this tell us about the freight rate outlook?

Global oil demand falters as inflation…

Global oil demand is showing signs of cooling after several months of rally. We explore the leading market indicators and what this means for…

Russia redirects its residual fuel oil…

As Russian redirects its residual fuels to the East, traditional western buyers are soaking up replacement barrels from all over the world, including heavy…

VLCC freight rate recovery challenged by…

VLCCs have had a tough first half in 2022, with increasing vessel supply and weak crude demand in East Asia keeping earnings well below…

Global gasoline supplies reach seasonal highs…

Global refineries are running at maximum capacity and unless faster demand destruction takes place versus the supply decline, we can expect net inventory builds…

Global crude/condensates liftings fall in June…

Global seaborne liftings fell, while arrivals of crude/condensates were flat m-o-m in June, reinforcing limited global spare capacity concerns.

Will dark voyages take the spotlight…

With a series of sanctions and bans affecting Russian oil exports, how has the dark voyage landscape changed and what does that tell for…

India’s refiners face headwinds after months…

India's refiners have been riding the waves of soaring refining margins over the past months but the tides could be turning soon.

Newbuild VLCCs & Suezmaxes: Different year,…

As the first half of the year draws to a close, Vortexa takes a look at the behaviour of newbuild supertankers and influencing factors.

Russian crude in transit at record…

Russian oil in-transit is hitting record highs, driven by the need to send barrels to the East, and is inspiring new shipping practices. Meanwhile,…

Libyan crude supply disruptions and the…

Libyan crude oil supply has taken a dent in recent weeks as a result of disruptions at key export and production sites. This insight…

US crude exports to Europe remain…

US seaborne crude/condensates loadings for Europe have remained elevated since April but as this has firmed, so too has the trend for more barrels…

Clean MR tankers show early signs…

Clean MR freight rates in the East of Suez are rising in unison of late, while those in the West are more volatile, moving…

LNG portfolios turn to one year…

Missing Freeport LNG supplies are starting to cool the spot shipping rates but LNG charterers are still seeking options to mitigate hikes in volatility and…

A bumpy road to recovery for…

China’s refining sector is recovering from a Covid-related recession amidst a series of push and pull factors, however, the road to full recovery will…

Will crude now catch up with…

The reason for high fuel prices is a lack of global refining capacity rather than a perceived lack of Russian supplies, and the cure…

Global crude/condensate loadings edge higher in…

Global seaborne loadings of crude/condensates edged higher m-o-m in May as an uptick from Saudi Arabia and UAE, and a recovery in Nigerian loadings…

Nowhere but storage for naphtha amid…

A rising volume of naphtha is building up in storage terminals in the ARA region and Singapore as demand for the petrochemical feedstock wanes.…

High-sulphur fuel oil arbitrage flows reverse…

In a trend that’s likely to stick, rising Russian fuel oil flows to East of Suez markets have weighed on Asia’s HSFO markets in…

Special report: Alternating fates for dirty…

Explore the dynamics currently dictating the dirty and CPP tanker markets, focusing on regional stories developing in both hemispheres of the world.

North African crude supply in the…

North African crude supply has seen shifts in recent months, largely driven by fresh protests in Libya and the displacement of Russian Urals in…

Fuel oil markets brace for further…

Global fuel oil prices are set to strengthen over the coming months being faced with a double whammy of rising demand and tight supplies.…