BP ships diesel from the U.S. to Australia in unusual move

13 Jul 2017   Australia, USA

Oil major BP Plc is shipping diesel from the United States to Australia in an unusual shipping flow, several industry sources told Reuters on Thursday. The Jupiter Express carrying about 35,000 tonnes of diesel loaded from BP’s Cherry Point, Washington refinery on June 29 and is currently headed to Botany Bay, New South Wales in Australia, shipping data on Thomson Reuters Eikon showed. BP declined to comment. Australia imports most of its diesel requirements from Singapore, South Korea and Japan but several refineries undergoing maintenance and prompt demand from India has tightened supply of the fuel in Asia, traders said. “The decision was (likely) made due to far east premium strength, Singapore (cash premium) strength versus bringing a vessel down,” a trader with a North Asian […]

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