U.S. Ramps Up August ULSD Exports To Europe
The U.S. is ramping up exports of ULSD to Europe in August with some 1.54 million metric tons of ultra-low sulfur diesel (about 11.5 million bbl) already tracked on 35 tankers loaded in the region that are due to arrive at northwest Europe or ports in the Mediterranean during this month.
The tally counts vessels under way or chartered to load at U.S. ports over the next 10 days, according to the OPIS Tanker Tracker on FleetMon.com.
So far, tankers are tracked reaching Europe up until Aug. 25, so it's likely that further ships will be added to anticipated volumes expected to make the approximately 15-day voyage across the Atlantic.
OPIS compiles the information from brokers, traders and satellite-tracking data.
The tally assumes vessels said to be loaded with clean petroleum product at ports on the US Atlantic coast or US Gulf to be carrying ULSD, as well as vessels said to be loaded with diesel.
The tanker charterer is known for all but nine of the vessels being tracked, with Valero so far the biggest mover of ULSD to Europe, with eight cargoes of 348,000 tons.
The US was the biggest supplier of ULSD to Europe in 2013, but so far in the first four months of the year, inbound volumes have been eclipsed by Russia, according to the European Commission's trade database, Eurostat.
Monthly ULSD volumes from the U.S. averaged just over 1 million tons from January to April, data show. Russian volumes have averaged about 1.34 million tons.
Charles Weber, a Connecticut-based shipbroker, said 16 medium-range tankers have been hired in the past two weeks ending Aug. 1 to load CPP for voyages to Europe from the US.
The OPIS Tanker Tracker compiles information from traders and brokers, and FleetMon ship tracking to provide a real-time insight into Europe-bound refined products on tankers. Pinpoint detailed shipping information, such as vessel, product and volume being transported, and buying or selling party and gain critical intelligence on the movement of product from port to port. Learn more and take advantage of a 21-day, no-obligation free trial.