Trafigura Secures Supertanker for Middle East Diesel Importation Trafigura Group, a leading global commodities trader, has chartered a very large crude carrier (VLCC) to transport diesel from the Middle East to Europe and other key markets. The supertanker, which can carry up to 2 million barrels of cargo, will load diesel from refineries in the Gulf region and deliver it to various destinations worldwide. This move highlights Trafigura’s continued commitment to meeting the growing demand for diesel globally. Diesel is a key fuel used in transportation, industrial machinery, and power generation. With economies around the world reopening after the COVID-19 pandemic, demand for diesel is expected to surge. “We are increasing our ability to ship diesel from the Middle East to meet the growing demand for this fuel,” said Christophe Salmon, Trafigura’s Head of Market Analysis. “The VLCC will enable us to transport large volumes of diesel efficiently and contribute to global energy security.” Trafigura has a long-established presence in the Middle East and has been instrumental in facilitating the flow of crude oil and refined products from the region. The company has a proven track record of chartering and operating vessels for the transportation of commodities. The VLCC rental is part of Trafigura’s broader strategy to enhance its logistics capabilities. The company recently acquired a stake in a new tanker operator and has been investing in the development of digital tools to streamline its shipping operations. “By investing in our logistics infrastructure, we are positioning ourselves to better serve our customers and respond to evolving market dynamics,” added Salmon. Trafigura’s move to secure a supertanker for diesel transportation underscores the company’s commitment to providing reliable energy supplies and supporting global economic growth.The commodities trader Trafigura has rented a supertanker to load diesel from the Middle East, as it seeks to take advantage of a widening price spread between the region and Europe. The company has chartered the 300,000-tonne tanker STI Beauty, which is expected to load diesel in the Middle East in the coming weeks and discharge it in Europe. The move comes as the price of diesel in Europe has surged in recent months due to the war in Ukraine and the subsequent disruption to Russian energy supplies. Meanwhile, diesel prices in the Middle East have remained relatively low, as the region has been less affected by the war. This has created a wide price spread between the two regions, which has made it profitable for traders to ship diesel from the Middle East to Europe. Trafigura is one of the world’s largest commodities traders, and it has a long history of shipping diesel around the world. The company has a fleet of supertankers that it uses to transport diesel and other commodities, and it is also a major supplier of diesel to Europe. The rental of the STI Beauty is a sign that Trafigura is betting that the price spread between diesel in the Middle East and Europe will continue to widen in the coming months. If the spread does widen, Trafigura will be able to make significant profits by shipping diesel from the Middle East to Europe.