Lower Russian HSFO exports in March and April (an impact of Ukrainian drone strikes on refineries) appear to have solidified the notable reduction in 2024 of these volumes going to the Middle East compared to last year. This has translated to less Aframax tonne-mile demand for DPP going to the Middle East, although intra-Middle East Aframax utilisation is healthy.
Although a notable pick-up in tonne-mile demand did occur in March, this is much lower than last year’s seasonal pickup. After an...
https://mfame.guru/indications-of-a-tightening-in-the-fuel-oil-market/