Moving Energy


Middle Distillates

Middle distillate trading represents a central aspect of Gunvor’s trading portfolio. Gunvor trades a full range of middle distillates, including heating oil, diesel and jet.


Heating, transportation


Americas, Europe



Gunvor’s middle-distillates team is an active participant in the diesel, gasoil, and jet markets. As a result of the Group’s global presence, with traders in Singapore, Dubai, Geneva and Houston, the team has a local presence and strong global coverage.

As a result, the desk is able to spot the imbalances of middle-distillate products in the world, moving cargoes from surplus areas, typically the U.S. and East of Suez, to deficit areas, typically throughout Europe, South America and Africa.

The desk’s analysts and quants have developed models to help foresee these dislocations, providing a key strategic asset to help the desk to position its physical flows accordingly.

The strong presence and quality of Gunvor’s shipping team allows the traders to move products on any route with cargo sizes ranking from Flexi (20kt) up to Very Large Crude Carrier (“VLCC”) (250kt). The Group’s customer base and reputation as a trustworthy partner allow Gunvor to have access to suppliers and end-users, either via spot or long-term contracts.

This set-up is complemented by the Group’s access to storage, logistics and distribution in all key areas, namely New York, the ARA region and Singapore, as well as some strategic storage closer to the desk’s end users, like the UK, Spain, and Turkey.

The team is also managing all the middle-distillate international trading around the Group’s Rotterdam refinery activity and, to a smaller extent, the Ingolstadt refinery, working with the planning team to optimise the quality of the output according to the market needs and blending in-house product with outside components to produce finished product, or organising the supply of gasoil feedstocks. This also includes the supply of high sulphur and kerosene feedstock to the refinery and the marketing of the diesel products.

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