Distance Dictates Demand
Nov. 21, 2016
Global refinery capacity is projected to reach 96.6 million b/d by the end of 2016, with 64% of these capacity additions stemming from East of the Suez markets. The Far East, Indian Sub-Continent and Southeast Asia regions lack the amount of crude oil production needed to meet refinery demand, leading them to source marine transported barrels from foreign nations. The re-arrangement of this sourcing dictates tanker trade routes and impacts ton-mile demand in the East of the Suez markets.
In McQuilling Services latest complimentary industry note, the group analyzes bilateral country trade flow data through July in order ...