Russian Diesel Exports on Track to Hit Fresh Record in May
Russian exports of ultra-low sulfur diesel to Europe are on track to hit a new record in May, with 1.8 million tons tracked arriving on 58 tankers this month, according to the OPIS Tanker Tracker. The figures don't include ULSD exports from nearby Baltic ports of Lithuania and Latvia, which bring total volumes of diesel to Europe from the region to more than 2 million tons. Information is compiled from brokers, traders and vessel satellite-tracking data.
The monthly tally surpasses the record of 1.7 million tons seen last July, based on data from Eurostat, the European Commission's statistics agency. The most recent Eurostat figures for Russian ULSD exports to Europe are to December.
May volumes compare to the 1.69 million tons tracked in April, and Eurostat figures showing 1.3 million tons exported from Russia to Europe 12 months ago. Russian ULSD shipments to Europe surged 58% in 2014, compared to the prior-year period, reaching 15.2 million tons, surpassing the U.S. to become the biggest supplier to the 28 member countries for the first time.
Eurostat data shows that average monthly volumes shipped from Russia last year were at 1.2 million tons. During May, shipments of ULSD from the U.S. were tracked at 1.134 million tons on 26 tankers. That's consistent with volumes seen last month (1.152 million tons) and compares to May 2014 volumes of 1.044 million tons, based on Eurostat data.
Total European ULSD imports this month have reached 3,578,000 tons on 98 tankers, some 200,000 more than in April. Some 37 million tons was imported to Europe in 2014, with average monthly volumes just over 3 million tons.