Splash 247.com: Blaze at Largest Refinery on the Us East Coast Will Spur Atlantic Product Tanker Sector

24 June 2019

Analysts at tanker brokers Poten & Partners noted in their most recent weekly report that it is likely that the Atlantic product tanker market and, to a lesser degree, the crude tanker market will notice the fall-out.

“If the PES refinery remains offline for an extended period of time, product tanker demand will increase as the region may need to import up to 30% more products, mainly by tankers. Currently, Canada is the main source for imports but it is unlikely that they can satisfy all the increased demand, so much of the additional imports will come from further away, mainly Europe and from the Middle East and India,” Poten stated.

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