Gasoline Cargoes Traveling 16,000-Mile Reveal Dysfunctional Trade

By Jack Wittels and Alaric Nightingale (Bloomberg) -- Summer is coming to Europe and that can only mean one thing. It must be time to send the continent’s excess gasoline halfway across the planet. At least 400,000 metric tons of gasoline have been shipped or booked for delivery to Australia from northwest Europe since the start of this year, according to shipping data … [Read more...]

Europe’s Growing Fleet Of Floating Gasoline

by Libby George, Ahmad Ghaddar (Reuters) - Gasoline stored in ships off Europe’s coast has ballooned to more than 400,000 tonnes, putting pressure on the continent’s traders to compete for buyers once summer demand starts. Several vessels have joined the three initially booked to store fuel off Europe’s ports in mid-March, and brokers said even barges have held cargoes of … [Read more...]

Gasoline Glut in New York Has Traders Sending Cargoes Abroad

By Laura Blewitt (Bloomberg) -- The biggest gasoline market in the U.S. is bursting at the seams. Traders are lining up to export gasoline and diesel from New York Harbor, an area that normally relies on fuel imports from Europe and eastern Canada, shipping data compiled by Bloomberg show. While at least 6 cargoes that were headed to New York from Europe in January and … [Read more...]

Los Angeles Gasoline Gains With Ships Chartered From West Coast

Dec. 26 (Bloomberg) -- Los Angeles gasoline climbed to the highest level against futures in six weeks after three ships were chartered off the U.S. West Coast, pulling supplies from the area while a local refinery performs unplanned work. California-grade gasoline in Los Angeles, or Carbob, rose 2 cents to a premium of 5.5 cents versus futures on the New York Mercantile … [Read more...]

Gasoline Cargoes to U.S. Seen Increasing in Shipbroker Survey

(Bloomberg) -- The number of gasoline cargoes booked on tankers for shipment to the U.S. will expand in the next two weeks, according to a Bloomberg survey. Traders will charter a total of 34 Medium Range vessels for loading within the 14 days to April 16, according to the median in the survey yesterday of five shipbrokers and traders specializing in shipments of the auto … [Read more...]