15 August 2018: ” New York-based tanker broker Poten & Partners has detailed the sudden raft of landmark VLCC terminals potentially being built around the US Gulf, something that is likely to hit the aframax trade hard.
In its latest weekly report, Poten has reported on up to five VLCC terminals that could be built in the coming years stretching from Brownville in the southwest corner of Texas to LOOP in Louisiana.
“Even if not all these offshore terminals are built, VLCC export capacity from the US Gulf will likely grow dramatically in the next 3-4 years, coinciding with and facilitating a rapid expansion of US production,” Poten noted in its latest weekly report, adding: “There is a risk that the new export capacity will outpace production growth, but, given their pipeline connections and superior economics, it is likely that these new offshore terminals will be fully utilized. This will further increase the use of VLCCs in US exports, but may come at the expense of suezmaxes and in particular aframaxes, as it will reduce the demand for reverse lightering.”
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