I was going to use Qaz's line, "I know a little ...", but then realized if I did try touse it, I would be contradicting myself. Some of the new events, I'm still very much in the dark.Okay, so I think I might have mentioned in one or more prior threads that increasing US energy production is having an impact on certain categories of tankers, in particular the largestcrude carrying tankers- the Very Large Crude Carriers, or VLCCs. So, it seems logical thatif the US is producing more crude internally, then crude imports would drop. During 1Q13, the class specific disparity grew further; US-delivered VLCC cargo declined44.6%, y/y, while the decline for Suezmaxes and Aframaxes came in at 7.8% and 2.3%, respectively. That part is somewhat clear.http://drg.blob.core.windows.net/hellenicshippingnewsbody/pd...But then I read that refined petroleum imports are also increasing, and I'm puzzled. Why would the import dynamics be changing on the product side too? And it isn't just the US that is impacted. Seems that the Australian refineries are also having issues with operational efficiency. So, while Australia is a net energy exporting country, it too imports both crude oil and refined petroleum. About 80% of its crude oil is imported, and 50% of its refined fuel is also imported. http://www.hellenicshippingnews.com/News.aspx?ElementId=3494...Who'd a thunk refineries in developing countries would be supplying consumers and customersin developed countries? Okay, technically Singapore probably qualifies as a developed country.If both the US and Australia have increased their domestic energy production, it seemscounter-intuitive that refined petroleum imports would also be going up.Now it begins to make sense why a tanker company like Teekay, that has traditionally focusedon crude oil tankers, has opted to order product tankers. Their most recent deal has aTeekay subsidiary, Teekay Tankers (TNK), ordering 4 Aframax size tankers + 12 newbuild optionsAlso, a Teekay subsidiary that focused on the liquid gas sector, Teekay LNG partners (TGP), has recently formed a partnership with another gas focused entity, Exmar. TGP and Exmar are collaborating more closely on Liquified Petroleum Gas (LPG) transport. http://gcaptain.com/teekay-exmar-form-joint-venture/
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