Europe Imports Diesel From South Korea, 19,000 km Away, Amid Fuel Crisis

Europe, experiencing disruptions in fuel supplies in the wake of the war in Ukraine and conflict in the Middle East, is importing diesel from South Korea, located more than 19,000 kilometers away.

Bloomberg News reported on the 3rd that the oil tanker Priamos is scheduled to transport approximately 90,000 tons of South Korean diesel to Europe soon.

The Priamos is expected to set sail from South Korea, pass through the Suez Canal, and voyage more than 19,000 kilometers to Europe.

The final destination of the Priamos is reported to be the United Kingdom or Rotterdam in the Netherlands.

Given that South Korea typically exports petroleum products to the Asia-Pacific region, the shipment of South Korean diesel to Europe is unusual.

Europe's move to import diesel from distant South Korea is driven by fuel shortages and soaring prices.

Europe relies heavily on imported diesel due to its limited refining capacity, but supplies have tightened because of international conflicts.

In particular, diesel prices in Europe remain significantly higher than those in Asia.

According to brokerage firm PVM, the index indicating the price gap for diesel between Europe and Asia has widened to its largest level since related statistics began being compiled in 2023.

While supplies of Middle Eastern crude oil face disruptions, a significant number of Asian refiners continue to produce petroleum products such as diesel.

China is also planning to increase its exports this month by gradually easing restrictions on petroleum products that were implemented under wartime conditions.
※ Please note: This article was translated by AI and may contain errors.