New Russia PL Lifts Litasco's Europe-bound Diesel Exports from Vystosk
Ultra-low-sulfur cargoes shipped by Russia's Litasco from the Baltic export port of Vysotsk surpassed a record 450,000 metric tons in March, as diesel reportedly began flowing via a new oil products pipeline.
The trading arm of Russian producer Lukoil shipped 10 cargoes totaling 314,000 tons in February, which then jumped to 14 cargoes in March, according to the OPIS Tanker Tracker.
The volumes are a sharp contrast the handful of diesel cargoes a month monitored from the Baltic port in 2015,and the first month of February, according to shipping data analyzed by OPIS.
All of the cargoes tracked so far in 2016 sailed to destinations in northwest Europe, mainly to the U.K., France and Germany.
Russia is the biggest supplier of ULSD to Europe, which imported nearly 19 million tons, or 36%, of all middle distillates shipped to the 28 member states, European Commission trade data showed for 2015.
Nearly all cargoes have been shipped from the Baltic Sea port of Primorsk since the federation sharply lifted exports in 2014 and 2015 as upgraded refineries began supplying lower-sulfur diesel to European specifications. Russian exports to Europe have doubled between 2013 and 2015.
But pipeline capacities have restricted shipments from ports outside Primorsk. Monopoly pipeline provider Transneft is quoted as saying that Lukoil will ship 1.2 million tons of diesel from Vysotsk this year, as a result of the new oil