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Indian Refiners Cut Use of Dirty Tankers to Move Diesel to NWE

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Indian refiners have cut their use of dirty tankers to export diesel to Europe in May, according to Reuters, after volumes hit a two-year high in April.

  • The build in storage in the ARA region and poorer arbitrage economics are hampering the ability of Indian exporters to send volumes to Europe.
  • Diesel exports using Suezmax and Aframax vessels hit a two-year high of 2.831m b/d in April, according to Kpler and Vortexa data.
  • Kpler estimated in February that around 35 Aframax tankers switched from dirty to clean products.
  • This was because freight rates for LR tankers spiked after Houthi attacks on ships in the Red Sea, Reuters said.
  • However, no dirty tankers carrying diesel on the India-NWE route have been observed in May, due to Europe being net long in for the immediate future.
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Indian refiners have cut their use of dirty tankers to export diesel to Europe in May, according to Reuters, after volumes hit a two-year high in April.

  • The build in storage in the ARA region and poorer arbitrage economics are hampering the ability of Indian exporters to send volumes to Europe.
  • Diesel exports using Suezmax and Aframax vessels hit a two-year high of 2.831m b/d in April, according to Kpler and Vortexa data.
  • Kpler estimated in February that around 35 Aframax tankers switched from dirty to clean products.
  • This was because freight rates for LR tankers spiked after Houthi attacks on ships in the Red Sea, Reuters said.
  • However, no dirty tankers carrying diesel on the India-NWE route have been observed in May, due to Europe being net long in for the immediate future.