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!