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Added Jul 11, 2019

VLCC Loadings Lift Diesel In-Transit to New Highs

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In Brief:

  • Volumes of diesel/gasoil on the water recently hit a multi-year high, buoyed by the flurry of newbuild VLCC tankers loading in June.
  • In-transit volumes of diesel/gasoil hit a fresh high of 25m mt on 10-11 July
  • Around 1.7m mt loaded in June across 7 newbuild VLCCs, the highest seen by Vortexa since 2016.
  • The latest newbuild VLCC to start loading is Nissos Santorini, which took on product from an LR2 tanker that loaded from Yosu. 
  • VLCCs have been used increasingly to carry diesel from East of Suez to the West on maiden voyages. Saudi Arabia, South Korea, Singapore/Malaysia have been the main exporters this year.

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