Maiden Clean Products News

Cargill Inc is reportedly in the process of shipping the first low-sulfur gas oil or diesel cargo from Southeast Asia to Europe. Reports say the company had chartered a tanker called the Young Lady, which is on its maiden clean products voyage, to lift a total of 680,000 barrels of gas oil from the Malacca II refinery in June. The Malaysian refinery is the only major refinery in Southeast Asia that can produce high-quality diesel that meets tight United States CARB and European EN590 specifications, traders said.

Cargill Inc. is in the process of shipping the first low-sulfur gas oil or diesel cargo from Southeast Asia to Europe. Traders said the company had chartered a tanker called the Young Lady, which is on its maiden clean products voyage, to lift a total of 680,000 barrels of gas oil from the Malacca II refinery in June. The Malaysian refinery is the only major refinery in Southeast Asia that can produce high-quality diesel that meets tight United States CARB and European EN590 specifications, traders said. They said the rare opportunity to export gas oil to Europe emerged because of multiple factors, including cheaper freight, closed arbitrage to the United States and low prices in the benchmark Singapore market.