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.
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.
This is the second article of this series, outlining how to think about data processing code in the Python world, and more specifically, how we can improve our code performance while writing legible, maintainable, production-quality code.
In this article, our Head of Data Services focuses on different practices to make sure that our data can be trusted, how we keep it recent and always accessible by adopting the mindset of site reliability engineering.
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.
The effects of Hurricane Laura, which made landfall on the US Gulf coast on 27 August, continue to be felt in the flows of energy commodities out of facilities in or near the path of the storm.
Persistently lower Black Sea crude loadings over July-September, compared to more buoyant export levels in the first half of the year, continue to weigh on the regional tanker market rates.
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?
In the wake of Hurricane Laura, we look at the impact of on vessel availability in the clean and dirty fleet segments in the US Gulf coast.
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.
US crude exports fell slightly month-on-month in August, but are still up 20% from last year.
Utilisation rates for Very Large Crude Carriers (VLCC) fell to 44% in August, their lowest level this year following stymied global demand recovery for crude and a significant loss of cargoes compared to 2019 levels, according to Vortexa data.
Singapore’s fuel oil floating storage inventories saw a 1.1mn mt drawdown over the last four weeks, reaching 4.2mn mt as of 17 August, the lowest since February. Read on to discover why.
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South Korea’s jet fuel exports to the US West Coast (PADD 5) rose to 115,000 b/d in July, the highest in at least four years, according to Vortexa data. This follows improved arbitrage economics after an uptick in PADD 5 jet fuel prices and falling clean tanker rates in June.
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.
US crude and condensates exports rose sharply in July to 3.2mn b/d, up by 22% from the previous month and 28% year-on-year.
Tightness in global heavy-sour crude markets has led to narrowing differentials for these grades against Brent in recent months, despite weaker demand sentiment in the overall crude complex in the wake of the pandemic.
Diesel and jet fuel loadings onto newbuild VLCCs have hit a year-to-date peak in July. Rising cargo volumes aboard VLCCs reinforce the view that east of Suez traders recently become increasingly keen on loading cargoes for longer haul journeys, potentially for floating storage.