CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

VLCC Loads Diesel in Middle East for Transport to the West

DIESEL

Trafigura loaded diesel onto supertanker Plata Glory in the Middle East this week in the first VLCC transport of diesel in bulk to the West in nearly a year, Reuters said citing Kpler data.

  • The shipment takes advantage of lower freight rates for crude tankers after costs of shipping fuel from Asia to the West jumped. Supply of vessels used to ship clean products has tightened with route diversions via the Cape of Good Hope to avoid the Red Sea area.
  • The VLCC loaded mainly gasoil from Adnoc’s Ruwais refinery and ship-to-ship transfers off Fujairah port this week, according to Vortexa and two shipping sources.
  • The conversion of Suezmaxes and VLCCs has been used to carry gasoil and jet fuel mainly from the Middle East and India's west coast, Vortexa's said.
  • The move could alleviate Asia's supply glut and support refiner margins and prices and could cap recent diesel price gains in NW Europe, Reuters sources said.
  • The trend for clean products on crude tankers could continue in the next two months but could moderate in August if clean tanker rates show signs of cooling, they added.
Energy BulletsHomepagemarkets-real-timeBulletCommodities
Energy BulletsHomepagemarkets-real-timeBulletCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.