The volume of clean products in offshore storage in Asia surged in early July, thanks to a shortage of onshore storage and a buildup of stocks from trading positions taken earlier this year. Offshore stocks of middle distillates, mostly gas oil, reached 6.2 million barrels in early July, stored onboard six large range 2 (LR2) tankers, one smaller LR1 and one Suezmax, according to shipbrokers EA Gibson. Just four tankers - two LR2s, a Suezmax and a very large crude carrier (VLCC) - were being used at the end of May.
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