Ships loaded with Reliance diesel, jet fuel turn to Asia instead of Europe

Asian buyers are rushing to secure fuel supplies to offset production losses from expected refinery run cuts as the near-halt in traffic in the Strait of Hormuz constrains oil supply to the region Home / Companies / News / Ships loaded with Reliance diesel, jet fuel turn to Asia instead of EuropeShips loaded with Reliance diesel, jet fuel turn to Asia instead of EuropeAsian buyers are rushing to secure fuel supplies to offset production losses from expected refinery run cuts as the near-halt in traffic in the Strait of Hormuz constrains oil supply to the regionReliance has this week been offering spot diesel and jet fuel loading from end-March ​to a handful of buyers in Asia | Image: BloombergReuters Singapore 3 min read Last Updated : Mar 06 2026 | 3:01 PM ISTAdd as Preferred source Listen to This Article Two tankers loaded with fuel from Reliance Industries in India that were headed to Europe made u-turns and are now bound for Asia, according to two ​trade sources and shiptracking data, as the refiner capitalises on firm ​Asian margins with the Iran war squeezing supply. The Advantage Life, which loaded around 100,000 metric tons (745,000 ‌barrels) of diesel at Reliance's Jamnagar refinery on February 28, is currently bound for Singapore, according to Kpler, LSEG data and two trade sources. The Navig8 Honor, which is carrying around 75,000 tons (591,000 barrels) of jet fuel and was initially headed to West-of-Suez markets, also turned around and is heading for Southeast Asia, according to Kpler shiptracking data and one of the two sources. Reliance did not immediately respond to a Reuters request for comment. Asian buyers are rushing to secure fuel supplies to offset production losses from expected refinery run cuts as the near-halt in traffic in the Strait of Hormuz constrains oil supply to the region.Also Read Jindal Stainless flags possible shipment delays to West Asia amid conflictSpiceJet to operate 14 UAE flights to bring back stranded citizens todaySri Lanka Navy 'safely' transfers 204 Iranian sailors from ship to ColomboIndian refiners move quickly to buy Russian oil after US relaxes curbsNifty bottom yet to come, shows this rare gap-down trend: SAMCO Securities Singapore jet fuel refining margins hit a record on March 5 ‌of $80 a barrel. Arbitrage margins favour sending jet fuel barrels from India to Asia rather than Europe now, given the tightening supply in East-of-Suez markets, according to Vortexa's head of APAC analysis Ivan Mathews. Asia's jet fuel production is expected to drop on "lower crude flows to Asia, prompting refinery run cuts and weaker fuel output in the region," while "restrictions in Strait of Hormuz flows will reduce Middle East Gulf exports" and further tighten availability, he added. Reliance has this week been offering spot diesel and jet fuel loading from end-March ​to a handful of buyers in Asia, cashing in on the higher premiums and urgent demand, four other ‌sources with knowledge of the activities said. Discussions were at premiums of $15 to $17 per barrel, linked to Middle East prices on a free-on-board basis, two of the four sources said, compared with small ​premiums in February. Indian ‌refiners are buying prompt Russian crude oil cargoes as the South Asian nation seeks to navigate an oil ‌supply crunch, with the U.S. Treasury Department granting a 30-day waiver on Thursday allowing India to buy Russian oil stuck at sea. Other tankers also U-turn Two other jet fuel tankers, the Elandra Tern and the ‌Burri, ​also turned towards ​Asia from their original destination of Europe, the sources said. The two vessels had loaded jet fuel from either Duqm port in Oman or Ruwais in Abu Dhabi before the war ‌in Iran started on ​February 28, according to Kpler data and two trade sources.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)More From This SectionAdani Gas keeps CNG, PNG prices unchanged; curbs supply for few industriesED conduct searches against Reliance Power Ltd in Mumbai, HyderabadIBM opens first infrastructure innovation centre to boost India-led AI workpremiumTCS in 'advanced' talks for more AI data centers in India as demand risesJapanese apparel retailer Uniqlo aims to make India hub of global sourcingTopics : Israel Iran Conflict US Iran tensions Reliance Industries Crude Oil India crude oil Asia EuropeDon't miss the most important news and views of the day. Get them on our Telegram channelFirst Published: Mar 06 2026 | 3:01 PM IST