Vortexa will make a recap of the key takeaways of crude tanker CPP voyages, while giving a view of whether this trend is sustainable in 2022.
Growing diesel tightness globally is fueling a rise in diesel cracks and a widening of the market backwardation. With refinery runs capped by high operational costs and upcoming maintenance activities, the diesel market could tighten further in the weeks ahead.
China issued the first batch of crude import and product export quotas to refiners this year at around 10% and 55% lower than last year’s respectively, signaling its commitment towards further consolidating the refining sector.
Asian refiners find silver linings in the current market dynamics despite a looming threat from the fast-spreading Omicron variant.
In this blog, Vortexa attempts to assess Omicron’s impact on crude and product tanker markets.
The global diesel market is tight and refinery supplies are struggling to keep up with rising demand, leading to a draw on inventories across key storage hubs.
China is now facing yet another dilemma of a diesel supply shortage, as the global natural gas tightness and sky-high coal prices are driving factories to turn to diesel power generators amidst rising seasonal diesel demand from other sectors
Global gasoline cracks are soaring amidst growing market tightness. A cap on gasoline production and high blending costs could see cracks reaching regular 5-year highs this winter
The global middle distillate market looks finely poised for this quarter as we enter a period of seasonally higher diesel consumption in the Atlantic Basin and rising east to west shipments.
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.
Vortexa provides an assessment of the impacts of hurricanes Ida and Nicholas on PADD 3 product and crude flows. Crude imports appear to be in for the greatest impacts.
Latin America has been a key importer of road transportation fuels in 2021. However fundamentals, seasonality and shipping indicators are signaling that the demand pull may be behind us.
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?
China issued a third batch of crude import quotas last week, but limited quotas will keep crude imports subdued for the rest of the year, which is further reinforced by a soft domestic demand outlook and limited product export quotas.
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.
A series of domestic policy changes and market headwinds in recent months has upended China’s refining industry, putting a tight lid on the country’s crude imports and product exports. Vortexa sheds light on evolving trends in the country's crude imports and product exports.
Vortexa evaluates if the current large volumes of seaborne diesel on the water are a demand pull or a supply push from refineries as they max out gasoline production.
Vortexa shows diverging trends for crude arrivals heading to key Atlantic Basin buyers.
As European gasoline and blending component imports dominate seaborne flows into PADD 1, we take a look at if this could be the beginning of a long term structural change. We also explore other points of gasoline resupply into PADD 1.
China’s new consumption tax on imports of mixed aromatics and light cycle oil (LCO) is about to turn the tides of its domestic supply and exports of gasoline and diesel/gasoil. Downside risks on MR tanker demand looms ahead.
As the US Colonial pipeline system restarts after its historic outage and panic buying subsides in the East Coast and Southeastern markets, we look towards waterbourne gasoline cargos to solve the regional stock imbalances.
An ailing crude market has driven charterers to employ newbuild crude tankers for East-to-West of Suez CPP cargo transits, adversely impacting LR2 demand.
Should the Colonial Pipeline network remain down for more than a few days, East Coast and Southeastern markets will start to see supply hiccups and related price spikes.
China's crude imports have slowed in April. A rebound in Q3 is faced with headwinds as refiners look to draw down their stockpiles amid elevated crude prices.
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.
Explore Q1 2021 freight market update based on Vortexa data.
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.
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.
Which Texas clean product export terminals were impacted the most during the freeze? Our infographic details the terminals with the largest weekly export volatility and who is recovering the quickest.
European diesel/gasoil exports to PADD 1 in February are set to approach record highs seen in November amid tepid European demand and a cold snap in the US northeast.
We put the spotlight on the key US crude and product net flows to watch.
Several gasoline and diesel cargoes have diverted away from the US East coast hub of New York Harbor so far this month, suggesting a current surplus in PADD 1 that could prompt prices to recede.
Explore freight markets forecast for 2021 based on Vortexa data.
Floating storage told the story of the extraordinary moves in oil demand and supply in 2020.
Vortexa sees a marked shift in French clean product flows in the aftermath of the country's recent nationwide lockdown.
Australia’s refining sector has been dealt another blow by BP’s recent announcement to shut its Kwinana refinery in Western Australia, and convert it into an import terminal by early next year.
Discover the key benefits of Vortexa's new net flows screen with an Infographic on European diesel flows.
We shine the spotlight on net flows of diesel and gasoline within the Mediterranean region.
The global build of unemployed tonnage is the cause of recent the weakness and a bleak outlook in clean tanker freight markets, as evidenced by a month-on-month drop in freight rates across 4 out of 5 routes analysed.
Australia’s Lytton and Geelong refineries are being threatened with permanent shutdown as the compounding impact of the pandemic on oil demand drags on. We postulate the changes on crude and refined products flows if the refineries shut.
As the US northeast (PADD 1) heads into the winter season, one factor on the minds of diesel market participants is will the change of seasons drive a change in flows?
Diesel/gasoil exports from the US Gulf coast (PADD 3) in September are set to register the largest month-on-month decline seen since April.
A second wave of diesel floating storage is now underway, as expectations grow for a further build.
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
Global diesel arbitrage flows are shifting as the pace of demand recovery and inventory draws vary across regions. We highlight the key global diesel trends across Europe, Asia and the Americas.
Sweden returned to the position of a net diesel exporter in June, amid improving European diesel consumption. Waning storage economics in the northwest European diesel market curbed the unusual flow of Russian diesel that moved into Swedish storage terminals observed over April-May.
Diesel imports into the US Atlantic Coast (PADD 1) are on track to surpass 900,000 mt in November, according to preliminary data by Vortexa.
Diesel exports from Indian public sector undertaking (PSU) refiners were observed at multi-year highs in October, Vortexa data show.
Primorsk diesel exports touched a multi-year low in September on the back of planned refinery maintenance, as northwest Europe drew more strongly on USGC volumes.
Seaborne loadings of diesel and gasoil from Russian Black Sea ports in week 29 rose to the highest weekly level since at least the beginning of 2016.
Waterborne diesel and gasoil imports into the ARA region rose in June to their highest level since January 2018.