In-dia for the Long Haul

The high crude oil price environment seen in 2011 has raised concern that inflationary pressure could interfere with the pace of global economic recovery. Some developing economies have attempted to control runaway inflation by limiting the price of fuel sold to domestic consumers, but just over a year ago, India began phasing out its subsidies for transportation fuels. The Finance Ministry acknowledged that the removal of subsidies would likely bring about an increase in inflation in the near term. However, this liberalization along with a tightening in quality has facilitated marketing to the United States and could increase demand for long range product tankers over the next few years. Download here