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.
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.
US Gulf coast gasoline exports have been seeking alternative markets in the region in recent weeks, beyond top markets Mexico and Brazil.