Living the Clean Sheen Dream

In recent weeks clean product tanker markets have experienced a resurgence of sorts on the back of several different factors. It would be easy to attribute improved earnings to a broader tanker market rising amid ongoing turmoil in the Middle East, but there is more to this story. Specifically, a brewing development that may seem surprising to some is likely an important driver of the current clean market: surging U.S. refined product exports. That may sound strange to anyone familiar with the longer term trend of an increasingly displaced domestic refining market, but recently released EIA data tells the story. Domestic refined exports, particularly to South American and Latin American countries, are significantly increasing. The question on everyone’s minds now is what is causing the phenomenon, and how long can it last. Download here