Backyard Barrels

26 October 2018: 

Sometimes things just work out.  Until 2006, the United States was a significant (and growing) net importer of refined products.  U.S. imports of petroleum products peaked at the end of 2005 at 4.5 million barrels per day (b/d).  At the same time, U.S. refined product exports barely reached 1.0 million b/d.  Since then, we have seen a dramatic 6.5 million b/d shift in product flows and the U.S. has become a significant net exporter of petroleum products and a dominant force in global export markets.  This shift in trade has had a big impact on employment opportunities for and trading patterns of product carriers in the Atlantic Basin.  U.S. product exports, in particular to Mexico and South America, have become a major source of employment for product carriers, in particular MRs.  Is this trend likely to continue or is a reversal in the cards? 

Please fill out the form to read the article.