Saudi Arabia and Russia are both sharply increasing diesel sales to Europe this month, adding to the backlog of tankers still waiting to discharge into the region's already congested ports. Traders say three long-range 2 (LR2) tankers have already been booked to load diesel from Saudi Arabia's new Yanbu refinery in the first week of January--the 110,000 deadweight metric tons Maersk Piper and Maersk Penguin, and the 113,000 ton Clio. More cargoes are expected as the plant, which is owned by Saudi Aramco and Sinopec and dubbed the "diesel machine," ramps up to full capacity.
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