Going With the Flow

Last week, 500,000 bbls of Colombian Castilla blend crude oil flowed through the Petroterminal de Panama (PTP) pipeline in Panama. The cargo was the pipeline’s first to flow from east to west and the reversal in flow direction mirrors a shift in petroleum trading patterns from the Atlantic to the Pacific. Although questions remain about the reversal’s ultimate impact on international trade flows, the reversed PTP pipeline may come to have significant implications for and the tanker market. Download here