Product tankers could receive a boost to tonne mileage if a planned uptick in Chinese diesel production makes its way to Europe to replace Russian volumes, Bimco said on Wednesday.
Europe has to replace 2m million tonnes of diesel imports from Russia when a ban on the country’s seaborne product imports starts in February, said the shipowner organisation.
It said China’s announcement last month that it was adding 15m tonnes to its export quotas for oil products — reversing earlier steep cuts — could provide one solution, while also giving a lift to the tanker sector.
