Diesel crunch will get worse as Brazil’s farmers begin planting
“Shipping economics show that diesel from Ulsan, South Korea, is currently the most viable option into Santos, while the math is becoming less favorable for US shipments.”
- Expert: Nikolas Plonski (Analyst – Americas, Sparta)
- Publication: Bloomberg
- Market Focus: Diesel, Distillates, Refining Margins, Freight Economics
- Geographies: Brazil, United States, South Korea, Americas
In an analysis for Bloomberg, Sparta’s Analyst – Americas, Nikolas Plonski, flagged a shift in the shipping economics behind Brazil’s diesel supply just as planting season drives import demand toward its seasonal peak. Diesel from Ulsan, South Korea is currently the most viable option into Santos, while cargoes from the US Gulf Coast have become less economically favorable. Plonski notes this is a temporary reversal — once Brazil’s planting season extends past October, Houston exports become workable again even as demand stays elevated through December. Traders should watch Santos freight economics and US Gulf Coast margins for the point at which the supply balance flips back toward American cargoes.
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