On the 6th May, our Analyst team came together to discuss the Clean Petroleum Products (CPP) and Dirty Petroleum Products (DPP) market in light of recent global events.
Claims from top trading houses and research analysts that oil demand is set for a roaring comeback as soon as this summer has divided market experts. Vortexa weighs in.
Fuel oil and dirty feedstocks exports (DPP) to the US from the FSU region are on track to fall sharply in January, preliminary Vortexa data show.
Saudi Arabia's fuel oil imports typically rise towards the peak power demand season in summer, but early indications so far in Q3 2020 point to a more subdued seasonal uptick compared with prior years.
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.
As the deadline for the IMO 2020 sulphur cap draws near, high sulphur fuel oil (HSFO) prices have fallen sharply and opened up arbitrage opportunities for US Gulf coast (PADD3) refiners to import fuel oil from Russia at record highs.
Fuel oil and crude inventory held in floating storage in the wider Port Dickson area off Malaysia has grown sharply, contributing to the regional offshore build up of IMO 2020 compliant fuels.
Over the last twelve months, the number of supertankers used for floating storage and blending operations offshore Singapore has more than doubled, from around ten at the beginning of the year, to a current fleet of twenty three.
Taiwan’s imports of low sulphur fuel oil (LSFO), used in power generation, and imports of high sulphur fuel oil (HSFO), have steadily been declining over the last 12 months.
Australian heavy sweet crude grades, such as Pyrenees, Van Gigh and Wandoo, have been swooped up by the market ahead of IMO 2020.
Saudi Arabia’s fuel oil imports in July rose to their highest since June 2018, Vortexa data shows.
Fuel oil backwardation is steepening in Europe and Asia as both markets transition to lower-sulphur bunker fuels from 2020.