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Russian naphtha arrivals into Asia could reach around 900,000t in August, a multi-year high according to latest Vortexa estimates. Close to 400,000t of this has already arrived.
Combined naphtha imports into Asia, from Black Sea ports Novorossisyk and Tuapse, and Baltic port Ust-Luga, expected at their highest since at least January 2016. Tankers loaded across late June-early August.
Cargoes in transit are currently heading to usual buyers in Asia, South Korea and China; others still signalling Singapore.
Russian flows to east of Suez picked up following end of spring refinery maintenance at petrochemical facilities in Asia and rising interest from ethylene producers. Loss of Iranian condensate post-sanctions in May also prompted cracker operators to raise naphtha imports to fill their crackers.
Elsewhere in Russian naphtha exports, LR2 tanker, Abliani, loaded Tuapse-origin naphtha via STS off Malta in August. Despite initially declaring Singapore as its next destination, it turned westwards, with its current unknown destination. This comes against a backdrop of higher Russian naphtha flows to Venezuela in recent months.