MEG
Middle East Gulf
Meaning
MEG (Middle East Gulf), also written AG (Arabian Gulf), is the market name for the Persian Gulf load region, the largest source of seaborne crude.
Also written as AG, Arabian Gulf
MEG explained
Loading ports include Ras Tanura, Ju'aymah, Mina al Ahmadi, Basrah and Fujairah. MEG/East is the largest VLCC trade, and MEG is also a major source of clean products.
Related terms
TD3C
TD3C is the Baltic Exchange benchmark VLCC route for a 270,000-tonne crude cargo from Ras Tanura, Saudi Arabia, to Ningbo, China.
Strait of Hormuz
The Strait of Hormuz is the narrow passage between the Arabian Gulf and the Gulf of Oman through which most Middle East crude exports pass.
TC1
TC1 is the Baltic Exchange benchmark LR2 route for a 75,000-tonne naphtha cargo from Ras Tanura to Yokohama, Japan.