Colombian diesel exports to USA accelerate in 2019
Vortexa Market Research Team
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Colombian diesel exports to the US — largely to PADD 1 (US Atlantic coast) — rose to a multiyear high of just under 50,000 b/d in October, boosting year-to-date exports on this route to around 25,000 b/d, Vortexa data show.
Vortexa observed 32 vessels discharging into the US during 2019, compared to only 15 in 2018, arriving mainly into Florida and New York.
Florida has been the biggest US recipient of Colombian diesel so far in 2019, with 20 vessels discharging, compared to only 4 in 2018.
In addition to the above ports, rising Colombian diesel exports also went to Puerto Rico. Around 19,000 b/d has arrived so far in 2019, up by 13% over the same period in 2018. US and Puerto Rico account for around 70% of Colombia’s diesel exports since 2016.
More diesel tankers are underway to PADD 1 - handymax tankers Kriti Emerald and Avon are en route to New York and New Haven, respectively, having loaded from Cartagena during late October-early November. PADD 1 one is also set to receive rare a cargo from India’s Sikka in November.
US EIA data show that weekly PADD 1 distillate stocks dropped to their lowest levels since mid-July 2018 in the week ending 25 October.
Higher Colombian diesel exports overall so far this year have been offset by rising imports. As a result, Colombia’s net diesel flows in 2019 have been relatively balanced. Imports, largely from PADD 3, flow mostly into Pozos Colorados, while exports largely leave from Cartagena port.