A predicted tanker boom following a European ban on Russian refined oil imports from Sunday could turn out to be a damp squib, according to Braemar.
Shipowners have predicted a potential double-digit increase in tonne-miles for product tankers, but the shipbroker warned that Moscow’s response to the ban could lead to a cut in demand.
Owner confidence stems from a changed environment after 5 February, when Russian oil has to travel for longer to new markets and Europe is forced to search further afield for replacement barrels.
