June arrivals logged to date appear to be on a robust path as well. This surge corresponds with recent trade expectations of continued strong imports on the back of favorable transatlantic economics, and is also reflected in the latest weekly figures released yesterday by the U.S. Energy Information Administration (EIA).

Separately, sources noted today that relatively cheap ship hire on the Europe-to-U.S. East Coast route should help this trade. “Yes, cheap freight always helps the arb or at the very least helps participants who are moving [barrels], and the freight component could sometimes be a make or break,” one contact noted.

Around 11.87 million bbl of mogas and blendstock were discharged into PADD1 from oil tankers loading at terminals across Europe during May, OPIS Tanker Tracker data show. Some 25 vessels hauling around 8.09 million bbl of mogas have been chartered for June, according to shipbroker reports logged to date.

Total gasoline volumes imported into PADD1 during April totaled 10.87 million bbl compared with 7.58 million bbl in March.

In the last 10-day period of May, some 17 oil tankers were tracked as discharging into PADD1 terminals, compared with 12 vessels discharging over 10 days of April. In total, some 37 oil tankers were chartered to import European road fuel cargoes for May.

As OPIS previously reported, factors such as the wide gasoline-naphtha price spread in May propelled European exports ahead of the traditional driving season stateside, which now has officially commenced. Yesterday’s EIA figures showed total PADD1 gasoline and blendstock imports at 862,000 b/d for the week ended May 27, the fourth time in the past six weeks when this figure has topped 850,000 b/d. RBOB imports, in particular, touched a nine-month high.

Overall, on a four-week average basis, total PADD1 gasoline imports have remained steadily robust through May, with the last weekly figure unchanged at 761,000 b/d. Yesterday’s EIA-reported nationwide gasoline demand, too, continued its recent impressive run, logging 9.716 million b/d for the latest reported week.

The French refinery strike is expected to have negligible impact on PADD1 gasoline imports, trade sources said. One stateside contact expects gasoline demand in the U.S. to remain in positive territory year-on-year at least through the third quarter, and imports to remain strong as well. “Unlike the diesel demand center in Europe, the U.S. East Coast gasoline demand center remains short on gasoline structurally,” he said.

OPIS chief oil analyst Denton Cinquegrana, too, expects imports to remain high amid strong demand. “The Colonial Pipeline also remains full, but with increased summer driving demand imports should remain steady,” Cinquegrana said.

Meanwhile, freight rates for medium-range (MR) oil tankers hauling 37,000 metric ton cargoes of gasoline to New York Harbor from Rotterdam, a route referred to as TC2 by the London-based Baltic Exchange, continue to remain weak. Today’s assessment was around $14.45/mt (W107.5).

Ships seen to be “fleeing” the U.S. Gulf Coast — where the current distillate export scenario is described as “atrocious” — to return to Europe to seek business there are seen to be depressing TC2, which in turn is playing to the advantage of gasoline traders.

“TC2 is quiet,” said one north European broker. “Rates softened last Friday and nothing since. Demand is just not there, I guess.”