Product Tanker

摘要

The summer driving season in the US unofficially starts with Memorial Day in June and ends with Labour day in September. Historically, during this time gasoline demand increases along with demand for other transportation fuels. While jet fuel demand is expected to get marginal support due to the pandemic restrictions, effective vaccination drives in many parts of the country have now allowed the public to travel privately, in turn, boosting gasoline demand and thus product tanker rates. However, the new variant of the virus is causing uncertainty in India and South Asia, where the governments have imposed local lockdowns. The re-establishment of containment zones will reduce mobility and hamper the recovery in oil demand amid the shock to the economy, which was recovering gradually. Indian transportation fuel demand is expected to fall by about 15-20% in 2Q21 before rising in 3Q21.