Vietnamese diesel imports from Singapore surge between January and April

Oil

Vietnam's diesel imports from Singapore in the January to April period increased by almost four-fold y-o-y to more than 715KT (45K b/d), Reuters reports citing data from Singapore's International Enterprise. Notably, this is more than a third higher than the 530KT (11K b/d) shipped in all of 2014. The rise follows the lowering of diesel import taxes for members of the Association of Southeast Asian nations to 5%, compared with 20% for non-ASEAN members (which is 10% lower than the original rate of 30% for non-Asean members prior to a cut on 14 April).