Having one eye set to analytical insights and the other on industry events, Vortexa provides a brief outlook on the shipping industry’s future. It seems that the tanker sector will need to surf high and wild waves, both in the short and the long term.
With the US driving season having come to an end, a pillar of support also breaks away for Asian gasoline cracks. But regional fundamentals and strong petchem operations are set to keep gasoline cracks supported.
As diesel strengthens against gasoline in the Atlantic Basin, will East of Suez diesel exports dampen the flames or will diesel continue to strengthen in the next six months?
As we witness global naphtha cracks continuing strength since the spring, we can see that seaborne naphtha imports carry on their impressive recovery. Strong flows are expected to continue on the back of firm petrochemical demand East of Suez and European gasoline blending.
Asia’s diesel/gasoil exporters are facing growing headwinds in moving barrels to the West. Despite the challenges, Asia's diesel/gasoil balances have been moderated by three key drivers – China’s slowing exports, robust regional demand and newbuild VLCC arbitrage – maintaining regional cracks stable.
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.
As global diesel loadings rise amid lagging demand, we explore how the supportive factors in the physical diesel market are not enough to withstand the pressure of a product in oversupply.
May saw arrivals of crude and products in West of Suez surging, while East of Suez markets disappointed across the barrel. There is room for improvement, but low crude activity merits caution.
North American LPG shipments to Asia may come at a higher price this summer due to multiple forces pressuring the economics of the trade.
Vortexa data shows at least 12mn bbl of crude has been delayed in discharging into key ports along India’s west coast, following the arrival of Cyclone Tauktae.
Vortexa outlines how naphtha has had a strong demand recovery but increasing demand for road fuels gasoline and diesel could incentivise refiners to adjust their yields to make less naphtha.
Vortexa outlines how the decline in US fuel oil and dirty feedstocks exports has impacted buyers in Latin America, Caribbean and Asia.
Latin American diesel imports via ship-to-ship transfers (STS) off west Africa are on track to hit a multiyear high of around 230,000 mt in March, up from less than 90,000 mt in February.
A breakdown of the impact on oil, freight and flows in the aftermath of the Suez Canal blockage.
As naphtha continues to find outlets towards the East, LR2 utilisation is on the rise in March, helping resurrect rates from multi-year lows. But widening LPG discounts to naphtha are expected to put a lid on Asia's naphtha imports in the coming months.
Our 'On the road to recovery: Asia's crude and products trade flows in 2021' webinar was hosted by Vortexa Lead Market Analyst, Serena Huang and Product Specialist, Teo Rui Jie on 16 March, who together discussed the outlook for Asia's trade flows and freight markets.
The VLCC market share of Johan Sverdrup volumes continues to increase at the expense of Aframax and Suezmax tanker segments, highlighting the demand for longer-haul routes.
The cold snap in North Asia ensured steady LPG export demand throughout January even as US propane prices reached their highest levels in over two years.
ARA region's fuel oil exports have surged amid an influx of Baltic supplies, but limited arbitrage opportunities are proving to be a headwind for the market.
What are some of the key crude arbs to watch in 2021? We highlight three crucial flows that will influence global oil markets this year.
The recent bonanza of exports enjoyed by LNG producers such as the US, fuelled by a demand crunch in Asia, has rippled through freight markets for LNG carriers.
US LNG producers are enjoying what is expected to be a short-lived bonanza as the confluence of depressed international liftings and colder than normal weather in Asia Pacific has recently boosted prices and arbs across gas markets.
More CPC Blend could be sailing to Asia in Q1 2021 driven by demand weakness in Europe and tightening UAE crude supplies to Asian refiners
Asia’s growing naphtha demand has outpaced arbitrage supplies in December, but higher exports from key suppliers should cap further upsides on naphtha cracks.
LR tanker rates are rallying higher following a strong month of October-loading naphtha exports from the Mediterranean and the Mideast Gulf heading East, with the momentum set to continue in November.
Asia's low sulphur fuel oil market is expected to tighten in Q4 2020. Global refinery runs and OPEC+ production levels are key signposts to watch for.
A second wave of diesel floating storage is now underway, as expectations grow for a further build.
Stay up to date on the ramifications of China’s long-standing port congestion, discover why Singapore’s fuel oil arbitrage flows from Europe and South Americas are in decline and get to grips with why Asia’s crude floating storage levels could be primed for resurgence.
US crude loadings to China are en course to reach a 4-month high in September, as more bookings emerge along the route for October.
How is clean products floating storage faring globally, and what regional dynamics can we see?
Infographic on India's recent clean petroleum product exports since the onset of covid-19
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 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.
You can now watch our on-demand webinar discussing the recovery of demand and changes in floating storage in the Asia Pacific region. Read our key takeaways here!