The end of refinery strikes in France has triggered a rebound in the country's seaborne diesel and gasoil exports.
Vortexa data show four tankers leaving French ports on 1-15 November carrying a total of 64,000t of diesel and gasoil, already double the full-month figure for October and almost 70pc of exports in November 2021. French diesel and gasoil exports last month were the lowest for any October since at least 2016 when Vortexa records began, constrained by widespread industrial that hobbled operations at five of the country's six refineries.
A handysize cargo carrying 31,000t of ultra-low sulphur diesel (ULSD) left Lavera in France for New York on 1 November. Workers at ExxonMobil's nearby 133,000 b/d Fos refinery returned to work in mid-October, although the GGT trade union told Argus that operations would not return to normal for 10-15 days. Two small tankers are also delivering French gasoil to the UK and Spain, while a 30,000t cargo of French ULSD has not been assigned a destination, but is scheduled to depart on 15 November.
As France ramps up exports, its gasoil and diesel imports are slowing down. Imports on 1-15 November are expected to drop to 680,000t on 1-15 November, down by 52pc compared with the same period last year, according to Vortexa. France imported 2.57mn t of diesel and gasoil while the refinery strikes were in full swing last month, up by 38pc on the year.
The restart of refineries is not the only factor behind the rise in exports and drop in imports. High inflation rates are starting to weigh on demand in Europe. The UK and Spain both imported a third less diesel and gasoil in October than a year earlier.
France is a net importer of seaborne diesel and gasoil, taking in 18.32mn t more than it exported last year.
