In this insight we shed light on the diverging trends emerging for crude and refined products loadings from OPEC+.
Clean tanker rates in the East of Suez have remained at a high level despite erratic demand in the region. The main driver of this situation lies on the supply side. In this insight we dive into the dynamics behind rates in the East, and link the chain of events to trace the freight rate trajectory.
In this webinar, Vortexa’s Lead Analyst, Serena Huang, China Market Analyst, Emma Li, and Lead Freight Analyst, Arthur Richier, discussed some new opportunities and trading strategies that have evolved as a result of this new oil regime.
From an oil and shipping point of view, the Russia/Ukraine war may curtail or merely rerout the flows of Russian oil barrels, or even keep them largely unchanged. The importance of diesel may even top crude, with limited alternatives speaking for continued Russian-European trade.
Vortexa were proud to host the Energy Market Update 2022 this week, as a pre-IE Week celebration event to bring together industry leaders, held in a hidden venue in Mayfair, London.
In this insight we’ll analyse the main drivers behind the decline on naphtha and LPG freight rates drop as well as what's in store for the future.
Asian refiners find silver linings in the current market dynamics despite a looming threat from the fast-spreading Omicron variant.
Naphtha flows have seen strong volatility, especially for US sources barrels. Surging European imports and falling loadings are linked to hydrogen economics. The current lack of inflows is boosting cracks.
In this blog, Vortexa attempts to assess Omicron’s impact on crude and product tanker markets.
Asia's gasoline cracks have staged a sharp correction in recent weeks. A shift in regional supply-demand dynamics has been the key driving force behind this.
The peculiarity of a global gasoline tightness even as the western hemisphere heads into winter and the seasonal rise in ethylene cracker runs in the east has led to an intensifying competition for naphtha molecules. Asia’s naphtha cracks are barreling to multi-year highs that show no signs of abating.
Global gasoline cracks are soaring amidst growing market tightness. A cap on gasoline production and high blending costs could see cracks reaching regular 5-year highs this winter
Global gasoline cracks are soaring amidst growing market tightness. A cap on gasoline production and high blending costs could see cracks reaching regular 5-year highs this winter
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.
Firm naphtha demand and discount to LPG prices has boosted naphtha volumes. At the same time LR2 tankers are involved in trades of other products, letting LR1 to gobble up market share out of the Middle East.
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.
What are the dynamics behind this dirty-to-clean shift and what is the impact on the product and crude tanker markets?
Despite a really strong, unseasonal LPG price hike, VLGC rates are following a different path. Vortexa attempts to shed a light on this divergent pattern.
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.
Elevated naphtha exports from Europe supported long-haul voyages in favour of LR2 tankers. Yet, will this trend contribute to uplift LR2 freight rates?
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.
As naphtha continues to find outlets towards the East, LR2 utilisation is on the rise in March, helping resurrect rates from multi-year lows. But widening LPG discounts to naphtha are expected to put a lid on Asia's naphtha imports in the coming months.
The cold snap in North Asia ensured steady LPG export demand throughout January even as US propane prices reached their highest levels in over two years.
Asia’s growing naphtha demand has outpaced arbitrage supplies in December, but higher exports from key suppliers should cap further upsides on naphtha cracks.
LR tanker rates are rallying higher following a strong month of October-loading naphtha exports from the Mediterranean and the Mideast Gulf heading East, with the momentum set to continue in November.