New Delhi: India’s diesel exports to Singapore are set to hit a 19-month high in August. The diesel exports to Singapore from India may exceed 330,000 metric tons this month. As per shiptracking data from Refinitiv, Vortexa and Kpler, India is on track to ship between 330,000 and 439,000 tons of diesel in August to Singapore. This volume is the highest since January 2022.
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As per experts, cheaper freight costs and low inventories in the Asian oil hub is the main reason for this. Meanwhile, India’s diesel exports to Europe may fall to their lowest this year. Freight costs for the India-Singapore route were around $21 per tonne. It is cheaper than the India-northwest Europe route in end-July.
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