Bloomberg: Europe-U.S. Gasoline-Cargo Flow Seen Gaining in Broker Survey

“The number of gasoline cargoes booked for shipment to the U.S. from Europe is poised to climb during the next two weeks, a Bloomberg News survey showed. Traders will charter a total of 22 Medium Range tankers for loading to June 18, according to the median in a survey yesterday of six shipbrokers. That’s four more vessels, each normally carrying 37,000 metric tons of the auto fuel, compared with a corresponding survey last week. There are 45 ships available for the trade, 11 more than last week. U.S. gasoline usage typically peaks during the so-called driving season between the Memorial Day holiday in late May and Labor Day in early September. Still, rising prices and a drop in the number of miles driven are curbing total U.S. demand for the fuel, according to maritime consultant Poten & Partners Inc. Vessels plying the trans-Atlantic route were earning $10,329 daily as of yesterday, the lowest since Nov. 28, according to the Baltic Exchange in London.“