The handy size tankers built at Philly Shipyard must be taking some business away from the large ATBs. How many of those tankers have been delivered so far? 10? How many more are they building?
Is this move from ATBs to tankers going to continue?
The newly permitted export of US oil is sending around 600,000 bbl / day overseas on foreign flag ships. That’s expected to increase to around 800,000 bbl / day. ATBs must be losing the opportunity to transport that oil to US refineries. Every barrel exported Is replaced by a barrel imported. US oil imports are what —around 2.5 million barrels / day?
It appears that ATBs have been overbuilt.
I cannot understand how Harley is growing so fast and building so many ATBs. I see that Harley is still advertising, but I hear that they have had a few layoffs too. They always have more than their share of turnover.