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.
West African crude exports to China continue to decline in May, following multi-year lows in April.
As China's crude import appetite slows, crude producers are now competing for a smaller pie. Who will be the winners and losers in this race?
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.
In this insight we examine the pros and cons of some key grades that could see/are seeing a boost in demand as European buyers shy away from Russian crude.
In this insight, we will drill into the details of export trends among the most important sweet crude producers for the global market.
Asia’s imports of sweet crude oil are on track to rise sharply in November as the region’s refiners pivot buying activity, at least in part, to minimise elevated desulphurisation costs.
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.
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 issued a third batch of crude import quotas last week, but limited quotas will keep crude imports subdued for the rest of the year, which is further reinforced by a soft domestic demand outlook and limited product export quotas.
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?
Atlantic Basin crude/condensate departures (including intra-country movements) totaled 21.2 mn b/d in April, the highest, albeit marginally, since May 2020.
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.
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.
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.
An uptick in gasoline loadings from Europe to West Africa since the beginning of September, compared to a calm summer has led to a strengthening of freight rates in the clean tanker market for LR1s.
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.