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.
China’s contribution to crude tonne-miles has dwindled year-to-date according to Vortexa freight data as the country continues to decrease crude imports. Other nations have stepped in to fill the void as our data shows.
Oil prices are on the rise and a $100 barrel of crude doesn’t seem as far fetched as it did a few months ago. The implications of crude reaching this strong, symbolic price are wide-ranging, especially when it comes to freight markets. Will OPEC+ step in and will this fuel a tanker market rally?
The OPEC+ announcement to stick to an increase in supply of crude has to date failed to kickstart a morose market. Using Argus Media pricing and Vortexa flows and freight data, we explore whether the expected second half of the year rally is due to materialise.
North American LPG shipments to Asia may come at a higher price this summer due to multiple forces pressuring the economics of the trade.
Cheaper Suezmax freight rates led to increased employment for US - Europe flows. Will this trend continue amidst a positive environment for European crude imports?
Elevated naphtha exports from Europe supported long-haul voyages in favour of LR2 tankers. Yet, will this trend contribute to uplift LR2 freight rates?
Claims from top trading houses and research analysts that oil demand is set for a roaring comeback as soon as this summer has divided market experts. Vortexa weighs in.