Free Trial

Clean Petroleum Product Movements via Red Sea Slip Heavily: Vortexa

OIL PRODUCTS

Vortexa has flagged a significant decrease in clean petroleum product (CPP) tankers transiting the Suez because of Red Sea transit risks.

  • Southbound transits of CPP have largely stopped, hovering at slightly over one transit per day on a moving average basis.
  • Remaining vessels moving on the route are nearly all Russian origin heading east it said.
  • Northbound CPP transits had been recovering before the US/UK airstrikes on January 12 but sharply fell after.
  • See chart for daily Bab-el-Mandeb CPP tanker transits – both Northbound and Southbound via Vortexa.



88 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Vortexa has flagged a significant decrease in clean petroleum product (CPP) tankers transiting the Suez because of Red Sea transit risks.

  • Southbound transits of CPP have largely stopped, hovering at slightly over one transit per day on a moving average basis.
  • Remaining vessels moving on the route are nearly all Russian origin heading east it said.
  • Northbound CPP transits had been recovering before the US/UK airstrikes on January 12 but sharply fell after.
  • See chart for daily Bab-el-Mandeb CPP tanker transits – both Northbound and Southbound via Vortexa.