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USGC distillate exports to Europe at 1,060,000 mt so far in March

London (Platts)--20 Mar 2017 1057 am EDT/1457 GMT


Around 1.06 million mt of distillates has set sail from the US Gulf Coast for arrival in Europe in March, according to data from cFlow, S&P Global Platts trade flow software, marking this month as something of a return to form after a period of relatively low trans-Atlantic flow.

Eight new fixtures were spotted on the USGC-Europe route this week, the majority heading towards Northwest Europe.

March marks the first time since November that US Gulf Coast exports have broken above one million mt.

Trans-Atlantic flows to Europe have notably been limited by competition from the Latin American market for US Gulf Coast barrels, but this demand has ebbed away in recent weeks.

At the same time, refineries in the US Gulf Coast have come back from maintenance, meaning more product available to export as runs ramp up.

While the lion's share of the departures in the past week will be 10 ppm ultra low sulfur diesel, one of the vessels is likely to be higher sulfur gasoil.

The MR High Discovery is currently heading to Algeciras having left from ConocoPhillips Alliance refinery, a significant exporter of gasoil.

--George Shaw, george.shaw@spglobal.com
--Francesco Di Salvo, francesco.disalvo@spglobal.com
--Edited by Dan Lalor, daniel.lalor@spglobal.com

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