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.
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.
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 data shows global jet fuel flows still remain well below pre-Covid norms, with little sign of a meaningful demand recovery so far this summer. Flows heading to key demand centres in Europe and Asia remain flat, but the US is proving to be a rare bright spot for import activity.
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.
On the 29th October, the global Vortexa team came together to discuss the middle distillates market, taking stock of the market from both sides of the pond, from Europe to America.
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.
We examine how Alaska’s jet fuel market has run against the wider global trend of persistently weak demand.
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
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.