The product tanker market could see a rebalancing, as a result of shift in gasoline flows. In its latest weekly report, shipbroker Intermodal said that “the global gasoline market is in flux as major producers take steps to manage supply and prices. At the forefront of these efforts is Russia’s decision to impose a temporary ban on gasoline exports from 1 March to 31 August 2024. Russia, a major player in the energy industry, has taken this step to address concerns about potential gasoline shortages and rising prices in its domestic market. The decision aims to ensure adequate petrol supplies during periods of high demand, such as the upcoming spring planting season and peak holiday travel months.
