May 19, 2022
In this insight, Vortexa examines the current status-quo for VLCC rates, and provides an outlook of whether the repositioning to the Western hemisphere can prove to be supportive in the months to come.
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West African crude exports to China continue to decline in May, following multi-year lows in April.
Record diesel cracks have fostered supplies, visible in strong exports from Asia, the Middle East and the US. Also Russian diesel exports to Europe are stable at a high level. Accordingly markets are cooling and the focus shifts to gasoline and crude.
Mental Health Awareness Week has now come to a close and to mark this occasion, last week Vortexa invited Jack Green, Team Great Britain Double Olympian, athletics coach, and mental health advocate, to speak about his own experiences.
As the global diesel shortage rises, the world looks to Asia's spare refining capacity for additional supplies. In this insight, we assess how much relief Asia can realistically offer in the near-term.
In this insight we shed light on the diverging trends emerging for crude and refined products loadings from OPEC+.
Clean tanker rates in the East of Suez have remained at a high level despite erratic demand in the region. The main driver of this situation lies on the supply side. In this insight we dive into the dynamics behind rates in the East, and link the chain of events to trace the freight rate trajectory.
China's slowdown in refinery runs has seen its onshore crude inventories building strongly, whilst VLCC tonne-mile demand in the East of Suez has come under immense pressure. More Russian Urals could be finding a home in China in the weeks ahead.
As China's crude import appetite slows, crude producers are now competing for a smaller pie. Who will be the winners and losers in this race?
PADD 3 diesel exports surged in April as import demand strengthened from key consumers in Latin America and Europe - the latter seeking to progressively reduce its reliance on Russian supply. PADD 3 exports rose despite stronger domestic diesel demand, once again underlying the growing global competition for diesel.
Europe has sucessfully made first steps in scaling back Russian oil imports and resupplying from other sources. But only about one third of the diesel challenge has been managed so far, already leading to record pricing. Global refining is severely constrained.
MR tankers in the Atlantic are facing a bumpy road after the first week of April, mainly driven by tonnage oversupply. However, the return of transatlantic gasoline demand could act as a deus ex machina and stage a revival for freight rates on both ends of the Atlantic Basin.
US crude/condensates exports to Europe are rising in April as the continent pivots further away from Russian supplies. As exports to Europe rise, so too are volumes loaded onto larger tankers, possibly indicating the start of a longer term trend.
Russian crude oil exports are rising strongly in April, adding pressure on oil prices on top of China's Covid nightmare and SPR release. But a number of factors speak for a renewed tightening of markets.
This special report details an in-depth overview of Russian crude and product exports, with a focus on crude oil and how recent surprising trends are impacting the shipping industry.
Global fuel oil prices are set to strengthen over the coming months being faced with a double whammy of rising demand and tight supplies. A crucial wildcard here is how much Russian fuel oil will find a home which could help alleviate the global supply shortage.
This latest exclusive report goes into detail regarding the ramifications of Iran's crude and condensate exports, with perspective on the shipping industry and fleet growth.
India's diesel exports set a record-high in March, as traders in the west snapped up every available barrel offered in the market. We weigh in on whether this export level is sustainable going forward.
On the 19th April, Vortexa's Market Analysis team came together to discuss oil & gas market dynamics in an environment of unseen uncertainty.
As we move into the second quarter of this year, we analyse the effects of recent developments on the tonne-mile demand of crude and clean tanker fleets.
In this insight we examine the diverging trends in the flows of Russia's flagship crude grade Urals, when loaded in the Baltics versus Black Sea.
Russian overall oil exports are on a declined path, while crude exports are stable. European resupply needs and volatility/risk are supporting freight rates, while so far we do not see unusual dark shipping activity.
Growing sanctions on Russia raise the question of re-supply to Europe. We take a look at the Middle East, which based on its size would be promissing, but flow trends suggest otherwise.
A jet fuel supply crunch in the US and Europe is drawing long-haul barrels from the East, but supplies are capped at a time when refiners are maximising diesel yields and entering into planned maintenance.
The Baltic Exchange pricing benchmarks are now accessible in conjunction with Vortexa’s market-leading analytics to provide a powerful combination for charterers, shipowners and freight analysts with the sharpest actionable insights available in the market.
In this insight we revisit Suezmax performance versus competing vessel classes at key regions in the aftermath of the Russian invasion.
As we enter the start of driving season for the Atlantic Basin, we have already seen refined product cracks rise to historical highs in both the US and Asia markets which have boosted global seaborne gasoline loadings to a 24-month record for March. Looking forward, high crude runs in a few selected regions could be the factor to cool gasoline cracks and refining margins somewhat.
Russian oil exports are increasingly struggling, given the strong dependence on "unfriendly countries". IEA's call of 2.5-3mbd crude supply losses looks plausible but is at loggerheads with range-bound oil prices.
We sat down with Chrizanne Minnie, an Executive Assistant, to find out what day-to-day life looks like, what qualities are needed to succeed at Vortexa and how she would really sum up our company culture...
Russian crude exports from the Baltic and Black Sea are now showing a clear redirection away from Europe. In this insight we explore the magnitude of this shift and where these crude cargoes are heading to instead.
Dirty products are the first energy exports out of Russia showing clear signs of declines. And there are good reasons for it, as well as relevant knock-on effects, including higher prices and Russian production shut-ins.
Following up on our APAC Webinar, we are answered questions on Russian oil exports, and the implactions on European and Asian crude and product flows, as well as repercussions for clean and dirty shipping.
In this webinar, Vortexa’s Lead Analyst, Serena Huang, China Market Analyst, Emma Li, and Lead Freight Analyst, Arthur Richier, discussed some new opportunities and trading strategies that have evolved as a result of this new oil regime.
While crude rates are falling from the peaks reached following the Russian invasion in Ukraine, CPP tanker rates continue their rally, especially in the Eastern hemisphere. In this insight we will analyse the drivers which have triggered this development.
The EU has made the bold claim that a 100 bcm reduction of Russian gas can be achieved this year. LNG will need to play a leading role in this effort. The question remains whether Europe’s LNG infrastructure can keep up.
More Russian diesel may stay in European markets than initially thought, even though many buyers are staying away from cargoes for now. But key buyers are making up for this, limiting unusual outflows to Asia so far.
We sat down with Chaïm-Wijnberg, our Growth Lead, to find out what day-to-day life looks like, what Chaïm keeps an eye out for when searching for new hires, how he sums up our company culture and what day-to-day life really looks like…
As the US and UK join a growing list of trading and refining companies in abandoning Russian oil barrels this week, the repercussions of an increasingly starved global oil market will deal a hard blow on Asia's economy.
Following the recent news of sanction placements as well as the oil and freight price behaviour over the past few days, we give a brief update on the fate of crude tanker markets, which looks ominous for shipowners.
Oil prices are set to rise strongly, as Russian supplies to the market are getting delayed or cancelled down the line. We try to give an overview on crucial factors for rebalanced the market in unchartered territory.
In the face of mounting challenges to trade oil from Russia, Vortexa conducts a scenario analysis to evaluate how a change in the flow landscape could impact Crude & CPP tanker demand.
In this insight we examine the pros and cons of some key grades that could see/are seeing a boost in demand as European buyers shy away from Russian crude.
From an oil and shipping point of view, the Russia/Ukraine war may curtail or merely rerout the flows of Russian oil barrels, or even keep them largely unchanged. The importance of diesel may even top crude, with limited alternatives speaking for continued Russian-European trade.
We're excited to welcome Natasha Adams as our new Chief Marketing Officer. Natasha has an exceptional track record in launching innovative technologies into global products and services deployed amongst major multinational corporations and empowering companies to utilise brand equity to disrupt, succeed and remain relevant in fiercely competitive markets.
Vortexa were proud to host the Energy Market Update 2022 this week, as a pre-IE Week celebration event to bring together industry leaders, held in a hidden venue in Mayfair, London.
European refiners' thirst for light-sweet crudes has propelled sweet crude premiums in recent weeks. As these premiums continue to test historical highs, it raises questions as to whether product prices are catching up fast enough to support this price momentum.
In this insight we analyse the main factors tightening European diesel supplies and driving backwardation to multiyear highs.
How CPP dynamics has shaped the MR freight market on the Atlantic as well as what is in store for the region in the short to medium term?
From the 26-28 January, Vortexa partnered with Argus to present at the Argus Crude Live online conference, alongside industry leaders.
As we witness US gasoline cracks moving toward levels matching 2021 highs, a year hit by severe unplanned supply problems and high refined product demand we can expect to see only further limitations to supplies as spring refinery maintenance ramps up across the globe and demand is set to grow for all refined products in a world emerging from the pandemic.
The global refining industry is facing immense challenges in ramping up runs. With Asia and Europe's refiners entering maintenance season, and current product inventories near historical lows, the market could see more tightness looming ahead.
We sat down with Michael Ita, Commercial Manager - Shipping, to find out what day-to-day life looks like, what significant milestones he has had at Vortexa, and what he really thinks of our company culture...
In this insight, we will drill into the details of export trends among the most important sweet crude producers for the global market.
Global crude inventories are at one of the lowest levels historically after a significant draw last year. Will this trend continue or is an inflection coming?
The Omicron variant is sweeping through Asia fast and furious. How much impact has it had on Asia's oil demand so far?
Surging diesel prices have been at the forefront of market news in recent weeks. Can clean tanker markets benefit from this pricing trend?
European LNG imports reach record highs in January, leaving less than 20% of free import terminal capacity - too little to cope with further losses of Russian gas.
In this insight we’ll analyse the main drivers behind the decline on naphtha and LPG freight rates drop as well as what's in store for the future.
In this insight we examine the reprcussions and motivations behind Europe and/or the US applying sanctions to Russian energy
Global crude liftings are falling short of meeting demand in spite of OPEC+ efforts, and the latest trend is furthermore going in the wrong direction.
We sat down with Sabrina Gross, Head of Customer Success, to find out what day-to-day life looks like, what significant milestones she has had at Vortexa, and what she really thinks of our company culture...
Vortexa will make a recap of the key takeaways of crude tanker CPP voyages, while giving a view of whether this trend is sustainable in 2022.
Global crude liftings are falling short of meeting demand in spite of OPEC+ efforts, and the latest trend is furthermore going in the wrong direction.
Growing diesel tightness globally is fueling a rise in diesel cracks and a widening of the market backwardation. With refinery runs capped by high operational costs and upcoming maintenance activities, the diesel market could tighten further in the weeks ahead.
Omicron: pre-emptive supply cuts & resilient demand draw stocks and lift prices
Today, Vortexa is proud to launch the world’s most complete data and analytics for global onshore crude inventories, enabling commodities traders and analysts to gain the fastest and most accurate view of global supply and demand balances.
Vortexa analyses flow developments in the Mediterranean, assessing the impact on freight rates and inferring on what lies ahead.
China issued the first batch of crude import and product export quotas to refiners this year at around 10% and 55% lower than last year’s respectively, signaling its commitment towards further consolidating the refining sector.
Global crude exports ended 2021 on a high, driven by higher volumes from key OPEC Middle East producers, the US and Russia.
A year in review through the eyes of Vortexa's Lead Freight Analyst, Arthur Richier.
Transatlantic rates reached an annual high recently, however are now easing. Vortexa is attempting to analyse the reasons behind this decline and whether this trend will resume.
Asian refiners find silver linings in the current market dynamics despite a looming threat from the fast-spreading Omicron variant.
Naphtha flows have seen strong volatility, especially for US sources barrels. Surging European imports and falling loadings are linked to hydrogen economics. The current lack of inflows is boosting cracks.
In this special webinar, Vortexa’s Market Analysis team came together to analyse where the global markets stand in the road to recovery and what challenges, opportunities and risks are waiting around the corner in 2022.
In last year’s freight forecast Vortexa described 2020 as one of the most volatile years on record. 2021 saw a more tepid year, with freight rates overall languishing at their lowest levels in years. Vortexa forecasts what 2022 has in store for freight markets.
Ever wondered what a day in the life looks like at Vortexa for a Data Engineer? We sat down with Arthur Degonde to dig deeper into what energises him most about working at Vortexa, what he really thinks of the company culture and what qualities are needed to succeed...
Vortexa analyses competitive advantages of different refining setups and concludes from product export data that refiners in oil producing countries are currently outperforming plants in consuming nations thanks to feedstock costs.
As geopolitical tensions mount around Russia-US relations, we take stock of the former nation's role in supplying oil and gas.
In this blog, Vortexa attempts to assess Omicron’s impact on crude and product tanker markets.
In this blog, Vortexa attempts to assess Omicron’s impact on crude and product tanker markets.
Total oil and gas seaborne departures rose to record highs in November. We investigate the main contributors and drivers behind the rise.
In celebration of Movember, Vortexa raised over £6,000 in donations towards increasing awareness of men's physical and mental health problems. We sat down with some of our 'Motexans' to understand why this movement is so critically important to them and why discussing difficulties needs to be destigmatised.
Within a month the oil market has been turned upside down. A wave of seaborne oil & gas supplies emerged in November, helping to cool prices already ahead of Omicron's appearance.
We sat down with Joanna Campos, a Senior NGL/LPG Analyst, to find out what day-to-day life looks like, what significant milestones she has had at Vortexa, and what she really thinks of our company culture...
Vortexa analyses the freight rate development of 4 vital CPP routes and investigates how the cross-vessel class dynamics could drive a domino effect on fleet repositioning.
The Biden administration announced today a historical Strategic Petroleum Reserve (SPR) release, but rather than cooling oil prices it led to a spike, at least in the short term.
Asia's gasoline cracks have staged a sharp correction in recent weeks. A shift in regional supply-demand dynamics has been the key driving force behind this.
As global market volatility continues to rock America and beyond, Vortexa’s Chief Economist David Wech and Senior Market Analyst Pamela Munger shared their expert insights on Crude and Clean Product supply and demand market dynamics and how to effectively manoeuvre operations to stride ahead of competitors.
Asia’s imports of sweet crude oil are on track to rise sharply in November as the region’s refiners pivot buying activity, at least in part, to minimise elevated desulphurisation costs.
Seaborne crude oil supplies made a step higher in October and early November, as core OPEC+ suppliers hike exports. But this is not necessarily bearish as it exposes a lack of spare capacity.
We sat down with Stefan Mihaylov, a Software Engineer, to find out what day-to-day life looks like, what significant milestones he has had at Vortexa, and what he really thinks of our company culture...
A rally in rates throughout the month of October was logically followed by an increase in laden crude tankers as seen through Vortexa data. With the physical reality of low tonne-miles settling in however, it remains to be seen whether that rally still has fuel to run on.
The global diesel market is tight and refinery supplies are struggling to keep up with rising demand, leading to a draw on inventories across key storage hubs.
The global diesel market is tight and refinery supplies are struggling to keep up with rising demand, leading to a draw on inventories across key storage hubs.
Today, Vortexa has gone live with a new screen combining real-time supply and demand freight analytics with The Baltic Exchange’s pricing benchmarks.
Calls on OPEC+ to raise crude supply faster than originally planned may not be the silver bullet some consuming nations expect as Vortexa data shows that OPEC+ sweet crude supplies are not keeping pace with sour barrels.
Calls on OPEC+ to raise crude supply faster than originally planned may not be the silver bullet some consuming nations expect as Vortexa data shows that OPEC+ sweet crude supplies are not keeping pace with sour barrels.
China is now facing yet another dilemma of a diesel supply shortage, as the global natural gas tightness and sky-high coal prices are driving factories to turn to diesel power generators amidst rising seasonal diesel demand from other sectors
We sat down with Radu Ghitescu, Senior Software Engineer, to find out what day-to-day life looks like, what significant milestones he has had at Vortexa, and what he really thinks of our company culture...