Russian diesel exports climb to a historical high in March - Vortexa
Black Sea ports of Novorossiysk and Tuapse are the primary ports involved in increased flows
Russian diesel exports surged 33% in March m-o-m with exports from the Black Sea alone growing by 270kbd m-o-m to reach a historical high since 2016, according to Vortexa.
Black Sea ports of Novorossiysk and Tuapse are the primary ports involved in increased flows, however Vortexa data also shows a jump in exports from Taman and Port Kavkaz pushing Black Sea diesel exports 295kbd higher y-o-y while diesel exports from Baltics also rising 196kbd y-o-y.
Turkey was the biggest recipient of Russian diesel in March hiking imports by 47% m-o-m and pushing out almost all other suppliers as it now receives 84% of its total diesel imports from Russia. From Turkey, the Russian diesel flows diverge based on origin. Black Sea exports moved toward East and West Med regions (Libya, Egypt, Tunisia) while Baltic flows have shifted fairly evenly in terms of percentage share to Brazil, Saudi Arabia, Egypt and Morocco causing an increase in tonne miles, according to the agency.
The analysts expect Russian diesel exports to decline in the near term due to extensive refinery turnarounds occurring in April – June.
