When the refinery is back online Donald Bogden of MJLF believes crude imports into the facility will more than double, which would look particularly promising for the VLCC segment.
In a note to clients the analyst said medium-range (MR) tonnage could prosper as well when Motiva completes some $300m worth of repairs to a crude distillation unit that was damaged by caustic chemicals shortly after the expansion went live just five months ago.
Assuming 90% utilisation and crude runs of 540,000 barrels-per-day the Stamford, Connecticut-based researcher claims the facility will fuel demand for 22 VLCCs, one suezmax and five aframaxes for lightering when everything is up and running.
Given the lack of local tonnage in the US Gulf and other factors Bogden says...
