Analytics Vortexa

Snapshot_DieselVLCC_v3

 

In Brief:

  • A diesel-laden newbuild VLCC that recently arrived in the Mediterranean has begun discharging its cargo via ship-to-ship (STS) transfer offshore Malta, Vortexa data show.
  • The VLCC New Journey loaded up its cargo during September from the Middle East. Proceeding into the Mediterranean in early November, it transferred around 40,000 mt of diesel to handymax Maersk Cebu on 10 November — which is now heading to the French port of Donges with an ETA of 18 November.
  • Prior to this, it had also discharged around 40,000 mt of diesel offshore Mozambique onto handymax tanker UACC Ras Laffan in mid-October. 
  • Market participants say New Journey will likely discharge more diesel onto other tankers offshore Malta in the coming days, with some 160,000 mt of diesel  still estimated to be on board.

  • Meanwhile another diesel-laden newbuild VLCC — Nissos Kythnos — is currently declaring Gibraltar as its next destination. The VLCC could reach the Mediterranean region by mid-December if she does not discharge any cargo in west Africa. Nissos Kythnos loaded up in South Korea and then Malaysia during October.

  • More than 5.5mn mt of diesel has loaded onto newbuild VLCCs so far in 2019, more than triple the volume seen loading in 2018, according to Vortexa data. 

 

 

Insights

Jul 30, 2020

Heavy-sour crude tightness: Is it here to stay?

Tightness in global heavy sour crude markets has led to firming differentials for these grades in recent months, despite weaker demand sentiment in the overall crude complex.

Jul 29, 2020

Clean VLCC loading activity peaks in July

Diesel and jet fuel loadings onto newbuild very large crude carriers (VLCCs) have hit a peak for this year in July.

Our newsletter

Subscribe below to receive Vortexa news and updates