Russian Distillate Cargoes Sailing to New York amid Heating Oil Shortfall
As many as six tankers laden with gasoil or diesel have been reportedly chartered over two weeks to make rare trans-Atlantic voyages to the U.S. East Coast from Baltic or Russian ports, amid heating oil shortfalls in New York.
Four of the six vessels are chartered by oil trader Vitol, according to data from brokers and traders compiled by the OPIS Tanker Tracker on FleetMon.com.
Most of the 235,000 metric tons (1.7 million/bbl) on the six ships is destined for the port of New York satellite-tracking data shows, with the first vessel arriving Feb. 19.
Heating oil demand has risen by an estimated 20% amid temporary shortfalls at terminals, heating oil traders and marketers told OPIS today.
The Vitol-controlled Miss Lucy, possibly carrying low-sulfur heating oil, arrives in New York tomorrow, after being loaded at the Baltic port of Ventspils. The Trafigura-chartered STI Regina is signaling it will arrive in New York on Feb. 26 and sailed from Klaipeida around Feb. 10.
Vitol has chartered two further tankers, STI Milwaukee and Loukas I, to load distillate cargoes from the Baltic region on Feb. 25, with options to discharge on the U.S. Atlantic coast.
Clearlake, the shipping arm of Swiss-based trader Gunvor, has similar options for a 44,000-ton cargo of ULSD being loaded at the Russian port of Primorsk on Feb. 23, information compiled by OPIS shows.
BP is also chartering the Nord Gardenia to take a 30,000-ton cargo of gas oil from Klaipeda to make the ten-12-day voyage across the Atlantic, with it due to arrive in the first days of March.
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