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Increased Chinese diesel exports bode well for product tanker ahead of EU sanctions

Europe will need to import diesel from new suppliers as of next year, when the EU’s sanctions on refined Russian oil products come into force. A potential increase of China’s diesel exports could make life easier for Europe, according to Bimco.

Photo: PR / Torm

China has decided to raise its exports of oil products by 15 million tonnes in 2022, which could give Europe a welcome opportunity to replace Russian diesel oil with Chinese oil – and also provide attractive income possibilities for the product tanker market, says Bimco.

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