The largest addition of refining capacity in four decades is generating excitement around the product tanker market.
Jefferies says the IEA forecast for 2.6 million barrels per day of new capacity in 2019 is the most since the 1970s.
“We believe a multi-year cyclical recovery in the refined products shipping market is on the horizon as global refinery throughput capacity increases easily outpaces new fleet supply growth,” said Randy Giveans.
