Easybourse.com, 1 Oct 2009
SINGAPORE -(Dow Jones)- As much as 1.2 million metric tons, or 8.8 million barrels, of Asian gasoil is in floating storage off the coast of Singapore, as traders wait to see whether demand returns to the region before sending cargoes to Europe, shipbrokers based in Europe and Singapore said.
However, Asia remains oversupplied with ultra-low-sulfur diesel, and with no strong regional demand, the gasoil must be exported, a Singapore-based trader said.
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