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.
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.
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.
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.
Russian seaborne crude and clean products have undergone a significant decline in July. We examine the key factors driving this shift, including rising pipeline flows and a tightening domestic gasoline market.
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.
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 uses flows data to illustrates how strong gasoline demand combined with steep petrochemical demand feedstock is driving up the demand for naphtha, making refiners max light end yields at the expense of middle distillate.
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.
US Gulf Coast imports of fuel oil and VGO are climbing as the region’s refiners respond to rising US gasoline demand.
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.
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.
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.
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 Latin American countries are increasing imports of crude and refined products whilst simultaneously exporting refined products into storage hubs, suggesting an oversupplied region.
Vortexa's infographic analyses gasoline/blending components volumes loading and in transit as they start to slow. As US refineries increase runs to meet domestic demand, European imports could be forced to find alternative destinations.
Vortexa outlines how the the peak in European gasoline loadings destined for the Atlantic Basin will slow and why.
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 recent drop in US refinery throughput following the North American winter storm has strengthened transatlantic gasoline flows, while exerting pressure on Medium Range (MR) tankers operating in the Americas. But looking forward, the tables could be turned.
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.
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.
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.
US gasoline/blending components imports into its Atlantic coast (PADD 1) are set to fall to the lowest weekly total seen in months, for the DoE week ending 6 November.
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.
The diversion of a gasoline blending component cargo away from the New York hub could foreshadow a weaker transatlantic pull for European gasoline/blending cargoes in coming weeks.r.
US Gulf coast gasoline exports have been seeking alternative markets in the region in recent weeks, beyond top markets Mexico and Brazil.
An uptick in gasoline loadings from Europe to West Africa since the beginning of September, compared to a calm summer has led to a strengthening of freight rates in the clean tanker market for LR1s.
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
Reduced gasoline imports and lower local refinery production have led to a large deficit in the total volume of gasoline supplied to PADD 1 during the driving season this year vs. 2019.
On 27 August, our US Analyst & Specialist team looked into the trends of the gasoline market in the US, the market reaction to the pandemic, and what recovery we can see coming in the second half of 2020.
Gasoline and blending component exports from northwest Europe and the Mediterranean rose on the month to 1.24mn b/d in July, the highest monthly total since March. This underlines rising refinery runs from European refiners amid stronger regional demand.