A cold winter in Europe this year could create a surge in diesel demand that could boost the already strong product tanker market, says Poten & Partners.
The continent is now said to be scrambling to find new suppliers after sanctions were imposed on Russia, previously its largest supplier, due to its invasion of Ukraine.
Europe’s seaborne diesel and gasoil imports from Russia were as high as 677,000 barrels per day in 2021, according to Vortexa data.
