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Caribbean Equities · a private commodity trading firm

Refined products

Fuels — Diesel, Gasoline & Jet

Refined fuels are the most liquid physical commodities in the Atlantic Basin — and the least forgiving of loose paperwork. We structure diesel, gasoline and jet supply for importers, distributors and industrial users across the Caribbean and the Americas.

A product tanker under way on open water, with deck piping and a white superstructure aft.
A product tanker at sea.

What is fuels?

Refined fuels are the light and middle distillate products produced when crude oil is fractionated, cracked and treated in a refinery. Diesel (gasoil) and jet fuel sit in the middle distillate cut; gasoline is blended from lighter streams such as reformate, alkylate, isomerate and FCC naphtha; residual fuel oil is what remains at the bottom of the barrel.

Commercially, each product is defined less by chemistry than by the specification it meets. A cargo of 'diesel' is meaningless until it is tied to a standard — US ultra-low sulphur diesel under ASTM D975, European EN 590, or a national standard such as those administered by the Bureau of Standards Jamaica or the Trinidad and Tobago Bureau of Standards. Specification, origin and the testing method agreed in the contract determine price, eligibility for import and insurability.

Fuels are typically priced against published benchmarks — NYMEX/CME futures for ULSD (heating oil) and RBOB gasoline, ICE Low Sulphur Gasoil, and price-reporting agency assessments for US Gulf Coast and Caribbean cargoes — with a negotiated premium or discount reflecting quality, freight and credit.

Grades & forms

ULSD (ASTM D975 No. 2-D S15)

Ultra-low sulphur diesel for on-road and most off-road use in the US and many Caribbean markets; 15 ppm maximum sulphur.

EN 590 10 ppm

European automotive diesel standard, widely requested in Latin American and African tenders; 10 mg/kg sulphur, cetane 51 minimum.

Gasoil 0.1% / 0.5%

Higher-sulphur gasoils for power generation, marine (MGO) and industrial burners where national standards allow.

Gasoline (RBOB / CBOB / EN 228 95 RON)

Motor gasoline in regular and premium octane; blendstock grades are finished locally with ethanol where mandated.

Jet A-1 (DEF STAN 91-091 / ASTM D1655)

Kerosene-type aviation turbine fuel; strict handling, segregation and documentation (Joint Inspection Group practices) apply.

Fuel oil (ISO 8217 RMG 380 / VLSFO)

Residual fuels for marine bunkering and power; VLSFO meets the IMO 2020 0.50% sulphur cap.

Specifications

Diesel — EN 590 (key parameters)

ParameterLimit / valueTest method
Sulphur≤ 10 mg/kgEN ISO 20846 / 20884
Cetane number≥ 51.0EN ISO 5165
Density @ 15 °C820 – 845 kg/m³EN ISO 3675 / 12185
Flash point> 55 °CEN ISO 2719
Viscosity @ 40 °C2.00 – 4.50 mm²/sEN ISO 3104
FAME content≤ 7.0 % v/vEN 14078

Diesel — ASTM D975 No. 2-D S15 (key parameters)

ParameterLimit / valueTest method
Sulphur≤ 15 ppmASTM D5453
Cetane number≥ 40ASTM D613
Flash point≥ 52 °CASTM D93
Distillation T90282 – 338 °CASTM D86
Viscosity @ 40 °C1.9 – 4.1 mm²/sASTM D445

Jet A-1 — selected parameters

ParameterLimit / valueTest method
Flash point≥ 38 °CIP 170 / ASTM D56
Freezing point≤ −47 °CASTM D5972 / IP 529
Density @ 15 °C775 – 840 kg/m³ASTM D4052
Total sulphur≤ 0.30 % m/mASTM D2622

Values summarise commonly referenced public standards for orientation only. The specification attached to the executed contract always governs.

Trade terms

Incoterms
FOB at the load terminal is standard for term supply; CFR/CIF to a named Caribbean or Latin American discharge port for delivered business; DAP/ex-tank for smaller parcels and in-tank transfers.
Pricing basis
Benchmark average (e.g. Platts USGC or NYMEX ULSD/RBOB) over an agreed pricing window around bill of lading date, plus or minus a fixed differential in US cents per gallon or US$ per metric tonne.
Quantity
Parcels from 5,000 MT (coastal/regional) to 30,000–60,000 MT (MR/LR1 tankers), with ±5–10% operational tolerance at seller's or vessel's option.
Payment instruments
Irrevocable documentary letter of credit (UCP 600) at sight or deferred, standby letter of credit (ISP98) supporting open-account terms, or cash against documents for established counterparties. Proof of funds and proof of product are exchanged only after KYC is complete.
Inspection
Independent quantity and quality inspection at the load port by an internationally recognised surveyor (e.g. SGS, Intertek, Bureau Veritas), with the certificate of quality and quantity forming part of the presentation documents.
Title & risk
Title and risk typically pass as product passes the vessel's permanent hose connection at the load port (FOB) or the discharge flange (delivered terms).

Use cases

Fuel distributors & importers

Term or spot cargoes into national import terminals, priced transparently against a public benchmark.

Power generation

Gasoil and fuel oil for utility and independent power producers where grid reliability depends on secure supply.

Mining, construction & agriculture

Bulk diesel for fleets and gensets delivered into third-party storage, with credit terms structured around project cash flows.

Aviation

Jet A-1 for into-plane suppliers and FBOs, with documentation chains that satisfy airport fuel quality regimes.

Logistics

  • Product tankers: General Purpose (10–25k DWT), Medium Range (25–55k DWT) and LR1 (55–80k DWT).
  • Segregated tanks and line flushing are required for jet fuel; diesel and gasoline cargoes must avoid cross-contamination.
  • Discharge into licensed terminal storage with customs bonded options where available.

Related services

  • Feedstock & Offtake Sourcing Agreements — Term supply for processors and committed offtake for producers, with verification and documentation built to bankable standards.
  • Private Credit & Insurance Wrappers — Private credit combined with credit insurance, guarantees and collateral control to bridge the gap between shipment and payment.
  • Tolling Agreements — Processing capacity without owning the asset: we structure, finance and administer tolling programmes between feed owners and independent processors.

Frequently asked questions

Do you supply EN 590 or ULSD?
Both. The grade depends on the destination market's standard. We confirm the applicable national specification before quoting so the cargo can clear customs and quality checks at discharge.
What is the minimum quantity?
For waterborne cargoes, typically 5,000 MT. Smaller in-tank transfers can be arranged where a terminal operator holds suitable product.
How is price set?
Against a published benchmark averaged over a pricing window, plus or minus a negotiated differential reflecting quality, freight, credit and timing.

Supplier directory

Lane guides for each fuels product by city, US state and FOB port:

Enquiries

Sourcing fuels?

We respond to qualified enquiries within one business day with a view on structure, pricing basis and documentation.