Rare Venezuela diesel cargo moves to Mediterranean.
Rare diesel cargoes are flowing from Venezuela to the Mediterranean, traders said. A ship arrived in the Mediterranean last week and another will arrive at next week, they said. Each cargo can carry about 33,000-37,000 tonnes of diesel.
The quality matches the 10ppm French winter specifications. The buyers were two traders but this was not confirmed by the companies. Price details were no available.
It is unlikely other spot cargoes will follow as spot arbitrage opportunities are limited, traders said.
Spot premiums on diesel were about $10 discounts in the Mediterranean to the Northwest Europe on Thursday.