Large-scale diesel imports in the Mediterranean/Black Sea region now dominated by Romania's Constanta port, as reported by S&P.

Large-scale diesel imports in the Mediterranean/Black Sea region now dominated by Romania's Constanta port, as reported by S&P.

Rewritten Article:

In a dramatic surge, the import of diesel into Constanta, Romania's Black Sea port, skyrocketed a staggering 2.5 times from a measly 1.6 million tons in 2021 pre-Ukraine conflict to an impressive 4.4 million tons in 2024. As a result, Constanta stands tall as the undisputed king of import destinations in the Mediterranean and Black Sea region, based on an S&P Global report.

Looking ahead, there's no sign of diesel demand in Constanta cooling off anytime soon, according to S&P. The swift growth trajectory witnessed between 2021 and 2025 paints a compelling picture of a growing trend, buoyed by favorable local consumption and current market fundamentals.

This growth spree sets the stage for prosperity for Oil Terminal (BVB: OIL) and JT Grup Oil (BVB: JTG), who are busy constructing a hefty €25 million diesel terminal at Constanta.

Before the war erupted in 2022, Ukraine primarily sourced its diesel from Russia. With the advent of the war and subsequent economic sanctions on Russia, Kyiv was forced to seek alternative supply routes.

Poland, nestled in the North-West European market, and Romania, situated in the Mediterranean/Black Sea market, have stepped in as key suppliers.

Latest S&P Global Commodities at Sea (CAS) data reveals that diesel and fuel oil imports into Constanta amounted to a whopping 4.4 million tons in 2024, up from a mere 1.6 million tons in 2021. Over the course of 2021-2024, the total volume inched towards a considerable 12.2 million tons.

In comparison, other significant fuel ports in the region recorded disappointing figures in 2024. Lavera port in southern France (at Fos-sur-Mer) managed 3.9 million tons, followed closely by Koper in Slovenia (3.4 million tons) and Venice in Italy (3.1 million tons).

The Polish ports of Gdańsk and Gdynia have also seen a substantial increase in diesel imports since 2021, mirroring a similar trend to that of Constanta.

In 2021, combined diesel and fuel oil imports in Gdańsk and Gdynia stood at a modest 2.6 million tons, before soaring to a formidable 3.9 million tons in 2024. While impressive, this growth pales in comparison to Constanta's staggering 3 million ton increase over the past four years, according to S&P Global.

(Sign up for Romania Insider to access this article)

(Photo source: Dynamoland/Dreamstime.com)

1. The surge in diesel imports in Constanta, a Black Sea port in Romania, has not only made it the leading import destination in the Mediterranean and Black Sea region, but also ignited a spree of investment in the energy sector, particularly in Oil Terminal (BVB: OIL) and JT Grup Oil (BVB: JTG) who are constructing a large-scale diesel terminal there.
2. The swelling diesel demand in Constanta, as indicated by S&P Global, is not only driven by local consumption but also by market fundamentals, with Poland and Romania emerging as key suppliers, following the disruption of Ukraine's supply chain due to the 2022 war.
3. The finance sector is also taking notice of the growth trend in the oil-and-gas industry, as evidenced by the robust imports of diesel and fuel oil into Constanta and other significant fuel ports like Gdańsk and Gdynia in Poland, which have experienced a similar uptick in imports since 2021.

Read also: