US ships 120,000t naphtha to Europe amid 'reverse arbitrage'

10 January 2014 16:17  [Source: ICIS news]

LONDON (ICIS)--The US is exporting at least 120,000 tonnes of naphtha to Europe in what is a reversal of the normal trans-Atlantic trade flow, shipping sources said on Friday.

Two shipping fixtures published this week showed the volumes would be transported from the US Gulf Coast to the UK continental shelf and the Mediterranean in vessels due to load in January.

Occasional US naphtha exports to Europe have always taken place, but more recently the US, traditionally a naphtha importer, has been settling comfortably into its new role as a naphtha exporter, trading sources said.

By: Cuckoo James
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