Latam imports of gasoline & diesel are enjoying a demand surge with volumes arriving from as far away as the East of Suez to fulfill hefty import requirements. However, despite higher volumes of clean products headed towards Latam over July, MR tanker US Gulf - Latam remained relatively unchanged, as a fair chunk of the inflow was supplied from West Africa.
Declining volumes towards the Far East limits tanker demand, but long-haul voyages to India keep VLCC and Suezmax tanker utilisation in balance.
On the 29th October, the global Vortexa team came together to discuss the middle distillates market, taking stock of the market from both sides of the pond, from Europe to America.
On 14 July 2020, we held a webinar discussing the dynamics of US crude exports to China and what predictions we can make from the data. Watch on demand now.
Crude exports from the US port of Corpus Christi have dominated Houston's exports in the past ten months on the back of increased connectivity to the Permian and Eagle Ford basins.
The share of US marine fuels arriving into the global bunkering and storage hub Panama rose sharply in the first half of this year, following the shift to IMO-compliant marine fuels. This displaced previously dominant high sulphur fuel oil (HSFO) from South America, as we highlight in this article.
The share of US LPG exports heading to Asia rose in the first half of the year, offsetting a drop in transatlantic flows. Looking ahead, the momentum of US exports to China in particular will hinge upon the competitiveness against rival Middle East producers.