Lloyd’s List: US Gulf Disruption to Benefit Tanker Markets

“Increased tanker rates and potential arbitrage opportunities are likely to arise following the Deepwater Horizon oil spill in the US Gulf, writes Liz McCarthy. ‘Voyages will be extended as vessels are forced to go around the spill, with freight rates likely to rise while owners and charterers haggle over who is responsible for extra costs,’ said New York-based Poten & Partners in its weekly report. ‘The disruption of normal trading patterns in the US Gulf is likely to also have other, more unpredictable consequences for both oil and tanker markets over the medium term. ‘If prompt supply of distillates in the area is affected significantly, it could create attractive arbitrage opportunities. Additionally, lowered volumes of crude oil being delivered to area refineries could contribute to a considerable drawdown in inventories.”