The cost for Latin American countries to import diesel via vessel from the United States is rising due to limited supply and increased freight costs, according to shipping sources and shipbroking data. The United States exports more than 1 million barrels of distillates every day, with Mexico, Brazil and Chile the top destinations, according to U.S. Energy Department figures. However, the growing shortage of distillates worldwide, particularly in Europe, has boosted demand and prices. Exports of U.S. diesel to Europe represent a reversal of normal trade flows. At the same time, exporters are trying to maintain long-term diesel contracts with Latin America, according to two shipbrokers. “We still have […]