Canada Opens The Floodgates

22nd March 2024:Trans Mountain Expansion will change Pacific Aframax market The expansion of the Trans Mountain Pipeline (TMX) is almost complete. Trans Mountain has started to fill sections of the pipeline with oil and sometime in May, the first export cargo will be loaded. It is reportedly a shipment of heavy crude that is going to China. This is a massive project that took 12 years and an estimated $34 billion to complete. It will almost triple the volume of crude oil that can be shipped from Alberta to the West Coast of Canada, from 300,000 barrels per day (b/d) to 890,000 b/d. Adding that much crude to the Pacific will dramatically change both the oil and the tanker markets in the region. In this Weekly Tanker Opinion, we will discuss both the opportunities and the challenges of this development. Please fill below form to continue read.