Vortexa provides an assessment of the impacts of hurricanes Ida and Nicholas on PADD 3 product and crude flows. Crude imports appear to be in for the greatest impacts.
The WTI market is set for structural weakness as rising West of Suez demand is more than offset by drastic policy changes in China and rising Middle Eastern supplies.
Hurdles increase for LPG exports from the US while supplies from the Middle East have yet to reach fruition.
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.
Is the OPEC+ output increase considered glad tidings or a false hope for the VLCC market?
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.
Vortexa looks deeply into oil shipments with strong visibility especially into the more opaque corners of the market to evaluate at the status quo of the oil demand recovery and evaluate if there is good reason for OPEC+ to be hesitant in unleashing oil supply onto the market.
Vortexa evaluates if the current large volumes of seaborne diesel on the water are a demand pull or a supply push from refineries as they max out gasoline production.
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.
Vortexa shows diverging trends for crude arrivals heading to key Atlantic Basin buyers.
Despite encouraging LNG pricing fundamentals, freight rates could plateau on the back of thinning US exports, reduction in tonne-miles and an influx of LNG carrier tonnage.
As European gasoline and blending component imports dominate seaborne flows into PADD 1, we take a look at if this could be the beginning of a long term structural change. We also explore other points of gasoline resupply into PADD 1.
May saw arrivals of crude and products in West of Suez surging, while East of Suez markets disappointed across the barrel. There is room for improvement, but low crude activity merits caution.
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?
US Gulf Coast imports of fuel oil and VGO are climbing as the region’s refiners respond to rising US gasoline demand.
Atlantic Basin crude/condensate departures (including intra-country movements) totaled 21.2 mn b/d in April, the highest, albeit marginally, since May 2020.
As the US Colonial pipeline system restarts after its historic outage and panic buying subsides in the East Coast and Southeastern markets, we look towards waterbourne gasoline cargos to solve the regional stock imbalances.
Vortexa outlines how supply and demand dynamics appear to be improving for LNG markets in a supportive price environment
Should the Colonial Pipeline network remain down for more than a few days, East Coast and Southeastern markets will start to see supply hiccups and related price spikes.
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.
Vortexa outlines how Latin American countries are increasing imports of crude and refined products whilst simultaneously exporting refined products into storage hubs, suggesting an oversupplied region.
Vortexa's infographic analyses gasoline/blending components volumes loading and in transit as they start to slow. As US refineries increase runs to meet domestic demand, European imports could be forced to find alternative destinations.
Vortexa outlines how global crude imports show a slow recovery for refiners.
Vortexa outlines how the the peak in European gasoline loadings destined for the Atlantic Basin will slow and why.
Vortexa outlines how the decline in US fuel oil and dirty feedstocks exports has impacted buyers in Latin America, Caribbean and Asia.
A breakdown of the impact on oil, freight and flows in the aftermath of the Suez Canal blockage.
The recent drop in US refinery throughput following the North American winter storm has strengthened transatlantic gasoline flows, while exerting pressure on Medium Range (MR) tankers operating in the Americas. But looking forward, the tables could be turned.
Which Texas clean product export terminals were impacted the most during the freeze? Our infographic details the terminals with the largest weekly export volatility and who is recovering the quickest.
European diesel/gasoil exports to PADD 1 in February are set to approach record highs seen in November amid tepid European demand and a cold snap in the US northeast.
We put the spotlight on the key US crude and product net flows to watch.
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.
Which regions will see the largest growth in new renewable diesel capacity additions in 2021? Our infographic details the top importing and exporting regions for biodiesel and feedstocks.
What are some of the key crude arbs to watch in 2021? We highlight three crucial flows that will influence global oil markets this year.
The recent bonanza of exports enjoyed by LNG producers such as the US, fuelled by a demand crunch in Asia, has rippled through freight markets for LNG carriers.
US LNG producers are enjoying what is expected to be a short-lived bonanza as the confluence of depressed international liftings and colder than normal weather in Asia Pacific has recently boosted prices and arbs across gas markets.
Several gasoline and diesel cargoes have diverted away from the US East coast hub of New York Harbor so far this month, suggesting a current surplus in PADD 1 that could prompt prices to recede.
Fuel oil and dirty feedstocks exports (DPP) to the US from the FSU region are on track to fall sharply in January, preliminary Vortexa data show.
Asia’s growing naphtha demand has outpaced arbitrage supplies in December, but higher exports from key suppliers should cap further upsides on naphtha cracks.
A cargo of Libyan crude is heading to PADD 5 for the first time in almost a year.
On 9th December, expert analysts from Vortexa, Windward and C4ADS came together to discuss the impact of trade sanctions on oil and shipping markets. Watch the webinar on demand!
Discover the key benefits of Vortexa's new net flows screen with an Infographic on US Gulf coast crude flows.
On 16th November, our Americas Analyst and Product Specialist team reviewed what the potential impact of the incoming Biden administration and 117th Congress will have on the global oil markets.
We examine how Alaska’s jet fuel market has run against the wider global trend of persistently weak demand.
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.
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.
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.
On 27 August, our US Analyst & Specialist team looked into the trends of the gasoline market in the US, the market reaction to the pandemic, and what recovery we can see coming in the second half of 2020.
US crude exports fell slightly month-on-month in August, but are still up 20% from last year.
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.
On 14 July 2020, we held a webinar discussing the dynamics of US crude exports to China and what predictions we can make from the data. Watch on demand now.
Crude exports from the US port of Corpus Christi have dominated Houston's exports in the past ten months on the back of increased connectivity to the Permian and Eagle Ford basins.
This Insight report examines a high risk scenario for freight tonnage if US sanctions for PDVSA were to be extended to tankers involved in Venezuelan movements in the past two years.
The share of US marine fuels arriving into the global bunkering and storage hub Panama rose sharply in the first half of this year, following the shift to IMO-compliant marine fuels. This displaced previously dominant high sulphur fuel oil (HSFO) from South America, as we highlight in this article.
The share of US LPG exports heading to Asia rose in the first half of the year, offsetting a drop in transatlantic flows. Looking ahead, the momentum of US exports to China in particular will hinge upon the competitiveness against rival Middle East producers.
Diesel imports into the US Atlantic Coast (PADD 1) are on track to surpass 900,000 mt in November, according to preliminary data by Vortexa.
As the deadline for the IMO 2020 sulphur cap draws near, high sulphur fuel oil (HSFO) prices have fallen sharply and opened up arbitrage opportunities for US Gulf coast (PADD3) refiners to import fuel oil from Russia at record highs.
Expected higher imports of Russian and US crude into Asia this month are set to provide a cushion against short-term disruption to Saudi Arabia’s light crude supply.