Latest news with #Vortexa
The Star
2 days ago
- Business
- The Star
Russia ships first naphtha cargo to Vietnam, data shows
MOSCOW/SINGAPORE: Russia has shipped its first naphtha cargo to Vietnam, as it looks for new buyers to support sales hit by Western sanctions, data from traders and shipbrokers showed. According to LSEG and Vortexa shipping data, the Malta-flagged tanker Northernlight loaded around 60,000 metric tonnes of naphtha in the Russian Baltic port of Vysotsk on June, 23 and delivered its cargo at Van Phong terminal in Vietnam's Khanh Hoa province. Nguyen Tran Trung, CEO of Van Phong terminal, on Friday (Aug 8) confirmed the arrival of the cargo, and said owner of the cargo has since shipped the naphtha out of Vietnam. "We are operating as a customs warehouse and the cargo is not imported into Vietnam," Trung told Reuters in a telephone call. He declined to provide the next destination of the cargo or the name of the owner of the cargo. The tanker discharged up to 27,000 tonnes of naphtha at Khanh Hoa, one of the sources said, adding that the terminal mostly consists of bonded storage tanks. According to LSEG and Vortexa data, after the Vietnam stop the Northernlight is heading to Chinese port of Dalian to discharge the rest of its cargo. At least 15,000 tonnes of the petrochemical feedstock is heading there, one shipbroking source said. Since the European Union's full embargo on Russian oil products went into effect in February 2023, countries in the Middle East and Asia have become the main destinations for Russia's naphtha supplies. Naphtha is a primary feedstock in the petrochemical industry for producing olefins and aromatics, which are then used to manufacture a wide array of products, including plastics, synthetics, and various other chemicals, and also used for gasoline blending. Russia doesn't supply oil to Vietnam, despite active cooperation in the oil industry between state companies. The only test supply was back in 2015, when a cargo of ESPO was shipped to Dung Quat refinery. - Reuters
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Business Standard
31-07-2025
- Business
- Business Standard
India's Russia oil imports slump, US crude purchases rise in July
Two months before American President Donald Trump unleashed his tariff and penalty war on India, Indian state-run oil refiners had started reducing purchases from Russia, sending the July import of Russian crude oil 22-27 per cent below that in June, according to refining sources and the ship-tracking data. Import from Russia in July was around 1.5 million barrels per day (bpd), the lowest this year after February, compared to 1.95-2.1 million bpd in June, according to the data from maritime intelligence agencies Vortexa and Kpler, reviewed by Business Standard. On the other hand, India's crude oil import in July, at 4.68 million bpd, declined by just less than 1 per cent from June. This shows sellers in West Asia, Africa, and the United States (US) have increased their share in the Indian market in July at the expense of Russia. Trump on Wednesday announced a 25 per cent tariff on Indian goods and unspecified penalties for purchasing Russian oil and arms. 'If these new tariffs are enforced, combined with existing sector-specific tariffs on products like aluminium, steel and automobiles, the total effective US tariffs on Indian imports would rise to around 26.6 percentage points excluding penalties,' Goldman Sachs on Thursday said in a report. Crude-oil import from the US increased 23 per cent in July from June, accounting for 8 per cent of the total. This was much higher than the 3 per cent share in February, reflecting New Delhi's attempts to accommodate the Trump administration's agenda of higher US energy export. But there may be trouble ahead as sanctions mount on India, both from the European Union (EU) and the US, said Vandana Hari, a Singapore-based energy expert. A fifth of tankers that delivered Russian oil to India in June were sanctioned this month by the EU, said Hari, founder of Vanda Insights, citing independent research data. Two officials in state-run firms said Trump's tweet and lack of a definitive statement from New Delhi had created uncertainty over August deliveries of Russian oil, which were contracted at the end of June and were now on high seas, before EU sanctions were announced. It is unclear if penalties will apply to existing shipments or new orders, the officials said. In addition, it is unclear how well Rosneft-run Nayara Energy, which accounts for nearly 15 per cent of India's Russian crude oil import, can manage operations after being sanctioned by the EU. Nayara has not commented on specific plans. Trump cited India's high tariffs, non-monetary trade barriers, and the purchase of Russia's military equipment and energy as the reasons for imposing the 25 per cent tariffs plus penalty, Nomura Securities said in a note. This highlights his deeper geopolitical concern over India's Russia dependence, rather than just resolving tariff and non-tariff barriers, the brokerage added. It maintained its FY26 growth forecast at 6.2 per cent in gross domestic product but flagged a downside risk of 20 basis points in case the tariffs get entrenched at these levels. Russian share falls Russian oil accounted for around 33 per cent of India's crude oil import in July, declining from a record of 45 per cent in June and 43 per cent a year earlier, the Kpler data showed. Iraqi supplies of Basrah grades, India's second-highest source, rose 10 per cent during the period. Iraq accounted for a fifth of India's July supplies, followed by Saudi Arabia at 15 per cent. Indian Oil contributed largely to the decline in Russian oil purchases in July, with purchases by India's biggest refiner crashing by more than half to around 200,000 bpd in the month, the Kpler data shows. Import by Reliance Industries, the biggest buyer of Russian oil, declined 17 per cent in the month to 618,000 bpd. State-run refiners in July made the biggest cuts, with Hindustan Petroleum importing around 20,000 bpd, around a third of the June volumes. Bharat Petroleum slashed purchases by 27 per cent during the period, the Kpler data showed. June this year was an outlier for Russian oil import, said a Singapore-based oil analyst with a western commodity broker. Russian shipment averaged around 1.6 million bpd this year, she said. Purchases in June were the highest in two years, with summer months typically showing elevated purchases of Russian oil, the ship-tracking data showed.
Yahoo
31-07-2025
- Business
- Yahoo
Key Asian fuel exporters boost jet fuel sales to Europe in July, sources say
By Trixie Yap SINGAPORE (Reuters) -Jet fuel exports from South Korea, China and Southeast Asia to Europe likely hit a multi-year high in July as traders shipped out excess regional supply to cash in on higher European prices, according to shiptracking data and industry sources. The Asian exporters are set to ship 600,000-775,000 metric tons (4.728-6.107 million barrels) of the aviation fuel to Europe this month, data from Vortexa, three trade and shipping sources showed, mostly from China and South Korea. Vortexa puts the volume at nearly a three-year high while trade sources said it's the highest in five years. Last month, northeast Asian exports to Europe were at nearly 500,000 tons. Elevated exports to the west will continue to ease Asia's supply glut and limit regional price weakness here. "The arbitrage economics has been favourable till mid-July," said Vortexa's head of APAC analysis Ivan Mathews, although he expects exports to ease in August as arbitrage margins have narrowed. Physical jet fuel prices in Northwest Europe were on average $65 per ton higher than in Asia, compared with $50 per ton last month, LSEG data showed. Meanwhile, the cost to ship 90,000 tons of jet fuel on LR2 tankers fell to an average $3.75 million in July from $4.4 million in June, data from shipbroker SSY showed, after the Iran-Israel conflict ended. In Europe, the average number of daily flights for July so far is up 4% year-on-year and 3% higher than 2019 levels, data from Eurocontrol showed, underscoring robust demand. Stockpiles of aviation fuel independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub were at 745,000 tons last week, the lowest since February this year, data from Dutch consultancy Insights Global showed. That level is below this year's average at 846,000 tons and 2024 weekly average of 881,000 tons. Robust exports from China also helped. The world's top refiner is expected to ship out more than 2.3 million tons of aviation fuel for August, similar to July, industry estimates showed. China's overall jet fuel and kerosene exports should remain elevated in the coming months as its top refiner Sinopec is increasing output while demand from domestic flights is plateauing, analysts from consultancy FGE said in a note. Jet fuel exports remained the most profitable for Chinese refiners compared with other products, two China-based trade sources said. Sign in to access your portfolio
Reuters
31-07-2025
- Business
- Reuters
Key Asian fuel exporters boost jet fuel sales to Europe in July, sources say
SINGAPORE, July 31 (Reuters) - Jet fuel exports from South Korea, China and Southeast Asia to Europe likely hit a multi-year high in July as traders shipped out excess regional supply to cash in on higher European prices, according to shiptracking data and industry sources. The Asian exporters are set to ship 600,000-775,000 metric tons (4.728-6.107 million barrels) of the aviation fuel to Europe this month, data from Vortexa, three trade and shipping sources showed, mostly from China and South Korea. Vortexa puts the volume at nearly a three-year high while trade sources said it's the highest in five years. Last month, northeast Asian exports to Europe were at nearly 500,000 tons. Elevated exports to the west will continue to ease Asia's supply glut and limit regional price weakness here. "The arbitrage economics has been favourable till mid-July," said Vortexa's head of APAC analysis Ivan Mathews, although he expects exports to ease in August as arbitrage margins have narrowed. Physical jet fuel prices in Northwest Europe were on average $65 per ton higher than in Asia , compared with $50 per ton last month, LSEG data showed. Meanwhile, the cost to ship 90,000 tons of jet fuel on LR2 tankers fell to an average $3.75 million in July from $4.4 million in June, data from shipbroker SSY showed, after the Iran-Israel conflict ended. In Europe, the average number of daily flights for July so far is up 4% year-on-year and 3% higher than 2019 levels, data from Eurocontrol showed, underscoring robust demand. Stockpiles of aviation fuel independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub were at 745,000 tons last week, the lowest since February this year, data from Dutch consultancy Insights Global showed. That level is below this year's average at 846,000 tons and 2024 weekly average of 881,000 tons. Robust exports from China also helped. The world's top refiner is expected to ship out more than 2.3 million tons of aviation fuel for August, similar to July, industry estimates showed. China's overall jet fuel and kerosene exports should remain elevated in the coming months as its top refiner Sinopec is increasing output while demand from domestic flights is plateauing, analysts from consultancy FGE said in a note. Jet fuel exports remained the most profitable for Chinese refiners compared with other products, two China-based trade sources said.
Reuters
23-07-2025
- Business
- Reuters
First LPG tanker docks at Enterprise Products Neches River terminal in Texas
HOUSTON, July 23 (Reuters) - A liquefied petroleum gas tanker moored at the Enterprise Products Partners (EPD.N), opens new tab terminal along the Neches river in Texas, ship tracking data showed on Wednesday, the first vessel to arrive for loading at the facility. Energy research firm Vortexa said the mooring signaled the commissioning of the plant. Enterprise did not immediately reply to a request for a comment. Enterprise, one of the top U.S. ethane producers and exporters, has been adding to its natural gas liquids business by building and expanding facilities to export ethane and propane to meet growing global demand. The company announced in April plans to construct a new export facility, which could load either ethane or propane, located on the Neches River in Orange County, Texas. Ethane and propane are byproducts of oil and gas production. Ethane is primarily used to make plastics, while propane is used for heating and cooking. Phase 1 of Enterprise's Neches River project has a nameplate capacity of 120,000 barrels per day and will accommodate loading rates of up to 45,000 barrels per hour. It was expected to begin service in the second half of 2025. Medium-sized gas tanker Navigator Eclipse entered the Enterprise Beaumont dock late on Tuesday and was moored on Wednesday, according to ship tracking data on LSEG and Kpler. The vessel has only moved ethane between U.S. and China since May 2021, according to Kpler. The vessel is likely to head to Satellite Chemical's ( opens new tab Lianyungang import terminal in China with the commissioning cargo, Vortexa's Samantha Hartke wrote in a note. Satellite could not immediately be reached outside of office hours. A company uses the commissioning stage to test and ensure all aspects of a plant are working before moving to commercial operations. Phase 2 of the terminal, which will allow Enterprise to load up to 180,000 bpd of ethane and 360,000 bpd of propane, or a combination of the two, is expected to begin service in the first half of 2026.
