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OIL
June is set to be a month of record high crude exports from Vancouver because of the start of TMX, with volumes touching 300kbd according to Vortexa projections.
- Vortexa expects 16 Aframax tankers to load this month from Vancouver.
- June has also witnessed the first STS loads of TMX cargoes onto larger VLCCs in Pacific Lightering Zone (PLZ) off Los Angeles, California it added.
- The first load of that type was the aframax SEA VOYAGER which transferred a cargo of Access Western Blend (AWB) via STS transfer to VLCC EAGLE VERONA which is headed to Ningbo, China.
- The startup of the TMX pipeline was expected to open up the Asian market for heavy Canadian barrels, with Chinese buyers already emerging.
Source: 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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