Lloyd’s List: Busy US Gulf Props up MR Product Tanker Market

“Oil products flowed out of the US Gulf on medium range product tankers this week, creating the busiest global spot market for the vessels and underscoring a change in trade dynamics in the Atlantic as the US cements its new role as a net exporter. Medium range product tankers shipped “plenty” of cargoes from the US Gulf to South America, said an Oslo-based broker, with fixture lists showing cargoes bound for Brazil and Chile. US Gulf cargoes of clean petroleum products also shipped on MR tankers to Europe on the backhaul trade route, which has seen cargoes rise to an average of 20 per month in the last six months from a previous average of around 14, according to Poten & Partners.”