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Market Chatter: Malaysia Does Not Own Diesel Shipment to Australia, Official Says

-- Malaysia does not own the 200 million liters of diesel bound for Australia, government-owned Bernama reported Wednesday, citing Communications Minister Fahmi Fadzi.

Fadzi said the diesel belongs to an international company that uses Malaysia as a storage hub, and is not Malaysian-produced diesel, according to the report.

The diesel shipment is linked to a commercial arrangement with BP Australia, which operates a storage facility in Malaysian waters. The vessel transporting the fuel is scheduled to depart from Malaysia as part of the logistics chain, he said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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