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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.
OIL PRODUCTS
Global clean petroleum product tonne-miles have dropped in Q4 according to Vortexa.
- In the MR markets, tonne-miles continued to decline for the second consecutive quarter, while LR2 tonne-mileage remained strong.
- Europe’s efforts to source alternative volumes of diesel from further destinations as the region moves away from Russian flows has increased parcelling sizes, with MR tanker and LRs taking away market share from the Handysize tankers.
- Conversely, Russia has struggled to place its diesel in ‘friendly’ markets such as Latin America and West African markets. Total CPP tanker utilization has dropped as a result.
- A brighter spot for CPP tanker trade is higher volumes coming out of China because of the increased export quotas. There was a nearly 150% increase in diesel/gasoil exports m-o-m in October according to Vortexa.
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.
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