European diesel shortages to support US-Europe clean tanker freight rates
- Russian refinery shutdowns have prompted European importers to look outside of the region for diesel cargoes, adding on to lost MEG barrels
- US-ARA arbitrages remain open, leaving opportunities for more diesel flows, possibly leaving room for freight rates to rise
- Asia is also seeing more interest from Europe with South Korean diesel headed to Europe on a MR tanker
Rising arbitrage windows leave room for freight rates to grow as Europe contends with diesel shortages
