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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
Trafigura said it could switch more of its crude oil tankers to carry clean products if sluggish market conditions persist according to a Bloomberg interview.
- Andrea Olivi, head of wet freight said “From what we see in the market today, I would expect this number to potentially increase,” he said.
- About 12% of Trafigura’s fleet of VLCCs and 20% of its Suezmaxes can carry those fuels on top of shipping denser crude.
- The move was driven in recent months by weakness out of China while extended production cuts by OPEC mean there is less oil needing to be moved.
- Vortexa has recorded record levels of tankers making the switch from dirty to clean in recent months recording over 37 VLCC’s and Suezmax vessles.
- The record number of VLCCs loading diesel from the Middle East in August capped demand for LRs. (see chart)
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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