LONDON (ICIS)--Europe is set to import a minimum of 287,000 tonnes of clean petroleum products (CPP) from the US Gulf Coast (USGC) in mid-January, shipping sources said on Friday.
Seven shipping fixtures published this week reveal the volumes will be transported from the USGC to the UK continental shelf and the Mediterranean on vessels due to load in mid-January.
|CPP imports to UKC/Mediterranean||US||Russia|
|Week Ended 17 January 2014||287,000||209,000|
|Week Ended 10 January 2014||234,000||119,000|
CPP refer to gasoline, naphtha, jet and ultra low-sulphur diesel (ULSD). However, most of the CPP volumes are likely to be diesel, as per industry sources. The US is a major source of the fuel for European markets.
CPP from the USGC can also be converted into the 50ppm gasoil grade that is commonly used in Germany, according to industry sources.
Meanwhile, seven shipping fixtures published this week revealed at least 209,000 tonnes of CPP will be shifted from Russia and the Baltic regions to the UK continental shelf and the Mediterranean on vessels due to load in mid-January.