About 90,000 tons of South Korean diesel will sail to Northwest Europe this
month aboard the tanker "Priamos", likely bound for the UK or Rotterdam, in a
trade arranged by Toke Group. The vessel will travel over 12,000 miles (≈19,000
km), probably via the Suez Canal. The unusually long voyage reflects tight
global diesel supply after Middle East tensions and the Russia–Ukraine war, and
limited European refining capacity with heavy reliance on imports. Europe-Asia
diesel spreads have widened sharply, making the long arbitrage viable; broker
PVM says the spread has reached the largest level on record since 2023 data
began.
