In this insight, Vortexa examines the current status-quo for VLCC rates, and provides an outlook of whether the repositioning to the Western hemisphere can prove to be supportive in the months to come.
US crude/condensates exports to Europe are rising in April as the continent pivots further away from Russian supplies. As exports to Europe rise, so too are volumes loaded onto larger tankers, possibly indicating the start of a longer term trend.
On the 19th April, Vortexa's Market Analysis team came together to discuss oil & gas market dynamics in an environment of unseen uncertainty.
As we move into the second quarter of this year, we analyse the effects of recent developments on the tonne-mile demand of crude and clean tanker fleets.
In this insight we examine the diverging trends in the flows of Russia's flagship crude grade Urals, when loaded in the Baltics versus Black Sea.
In this insight we revisit Suezmax performance versus competing vessel classes at key regions in the aftermath of the Russian invasion.
Russian crude exports from the Baltic and Black Sea are now showing a clear redirection away from Europe. In this insight we explore the magnitude of this shift and where these crude cargoes are heading to instead.
As the US and UK join a growing list of trading and refining companies in abandoning Russian oil barrels this week, the repercussions of an increasingly starved global oil market will deal a hard blow on Asia's economy.
Following the recent news of sanction placements as well as the oil and freight price behaviour over the past few days, we give a brief update on the fate of crude tanker markets, which looks ominous for shipowners.
In the face of mounting challenges to trade oil from Russia, Vortexa conducts a scenario analysis to evaluate how a change in the flow landscape could impact Crude & CPP tanker demand.
From the 26-28 January, Vortexa partnered with Argus to present at the Argus Crude Live online conference, alongside industry leaders.
Vortexa will make a recap of the key takeaways of crude tanker CPP voyages, while giving a view of whether this trend is sustainable in 2022.
Global crude exports ended 2021 on a high, driven by higher volumes from key OPEC Middle East producers, the US and Russia.
In this special webinar, Vortexa’s Market Analysis team came together to analyse where the global markets stand in the road to recovery and what challenges, opportunities and risks are waiting around the corner in 2022.
In this blog, Vortexa attempts to assess Omicron’s impact on crude and product tanker markets.
As global market volatility continues to rock America and beyond, Vortexa’s Chief Economist David Wech and Senior Market Analyst Pamela Munger shared their expert insights on Crude and Clean Product supply and demand market dynamics and how to effectively manoeuvre operations to stride ahead of competitors.
Scrubber installations have shaped the employability and demand of VLCC tankers in a globally depressed crude freight market in 2021.
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.
As the world tries to shake off the pandemic, Vortexa looks at top-level tanker demand trends to understand how the Crude and CPP markets have fared compared to the pre-covid period, the previous quarter and what is in store for the future.
Puzzling trends are emerging in the North Sea crude market with Forties cargoes increasingly seen offshore UK, yet at the same time Johan Svedrup flows to Asia are poised to rise.
Having one eye set to analytical insights and the other on industry events, Vortexa provides a brief outlook on the shipping industry’s future. It seems that the tanker sector will need to surf high and wild waves, both in the short and the long term.
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.
In this webinar, Vortexa’s Senior Freight Analyst Arthur Richier and Freight Analyst Ioannis Papadimitriou deep-dive into whether optimism for recovery is well-placed, or if market fundamentals are likely to falter and the carefully stacked house of cards is likely to topple.
As diesel strengthens against gasoline in the Atlantic Basin, will East of Suez diesel exports dampen the flames or will diesel continue to strengthen in the next six months?
West African crude exports fell to a record low in August, underlying the acceleration of a structural decline that can be traced back to back to early 2020.
As CPP volumes on crude supertankers decline, Vortexa analyses the main factors of this occurrence and provides a view on the future of VLCC and Suezmax clean maiden voyages.
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.
Asia’s diesel/gasoil exporters are facing growing headwinds in moving barrels to the West. Despite the challenges, Asia's diesel/gasoil balances have been moderated by three key drivers – China’s slowing exports, robust regional demand and newbuild VLCC arbitrage – maintaining regional cracks stable.
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?
With OPEC+ going through a standoff concerning the future production policy, a spike in crude exports in early July raises eyebrows. We investigate how sustainable this development is likely to be.
Vortexa summarises the trends and dynamics that prevailed in the crude and product tanker market throughout Q2 2021
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?
Declining volumes towards the Far East limits tanker demand, but long-haul voyages to India keep VLCC and Suezmax tanker utilisation in balance.
Vortexa data shows at least 12mn bbl of crude has been delayed in discharging into key ports along India’s west coast, following the arrival of Cyclone Tauktae.
An ailing crude market has driven charterers to employ newbuild crude tankers for East-to-West of Suez CPP cargo transits, adversely impacting LR2 demand.
Explore Q1 2021 freight market update based on Vortexa data.
Latin American diesel imports via ship-to-ship transfers (STS) off west Africa are on track to hit a multiyear high of around 230,000 mt in March, up from less than 90,000 mt in February.
The VLCC market share of Johan Sverdrup volumes continues to increase at the expense of Aframax and Suezmax tanker segments, highlighting the demand for longer-haul routes.
ARA region's fuel oil exports have surged amid an influx of Baltic supplies, but limited arbitrage opportunities are proving to be a headwind for the market.
Explore freight markets forecast for 2021 based on Vortexa data.
A second wave of diesel floating storage is now underway, as expectations grow for a further build.
Utilisation rates for Very Large Crude Carriers (VLCC) fell to 44% in August, their lowest level this year following stymied global demand recovery for crude and a significant loss of cargoes compared to 2019 levels, according to Vortexa data.
Diesel and jet fuel loadings onto newbuild VLCCs have hit a year-to-date peak in July. Rising cargo volumes aboard VLCCs reinforce the view that east of Suez traders recently become increasingly keen on loading cargoes for longer haul journeys, potentially for floating storage.