Tanker cargo, including crude oil, petroleum products
and gas accounted for over one quarter of total ton–
miles in 2012, down from over one third in 2000. Within
tanker trade, crude oil held the lion’s share (19.1 per
cent), followed by petroleum products (5.7 per cent)
and gas (2.3 per cent). The average distance travelled
by crude oil declined marginally (−1.2 per cent)
between 2000 and 2012. In contrast, and reflecting
growing long-haul imports into Asia and flows from
the United States to developing America, average
distances travelled by petroleum products increased
by 6.4 per cent.1 This growth will likely continue in view
of, inter alia, the following elements: (a) refinery closures
in Europe which will create a shortage of middle
distillates that will require increasing imports, including
long-haul shipments from Western Asia, India and the
United States; (b) the need to meet growing demand
for distillates in Asia, in particular through increased
imports from Western Asia; (c) the intensified exports
from the United States to developing America and
potentially to other regions, including Africa where
demand for middle distillates is on the rise.
Tanker cargo, including crude oil, petroleum products
and gas accounted for over one quarter of total ton–
miles in 2012, down from over one third in 2000. Within
tanker trade, crude oil held the lion’s share (19.1 per
cent), followed by petroleum products (5.7 per cent)
and gas (2.3 per cent). The average distance travelled
by crude oil declined marginally (−1.2 per cent)
between 2000 and 2012. In contrast, and reflecting
growing long-haul imports into Asia and flows from
the United States to developing America, average
distances travelled by petroleum products increased
by 6.4 per cent.1 This growth will likely continue in view
of, inter alia, the following elements: (a) refinery closures
in Europe which will create a shortage of middle
distillates that will require increasing imports, including
long-haul shipments from Western Asia, India and the
United States; (b) the need to meet growing demand
for distillates in Asia, in particular through increased
imports from Western Asia; (c) the intensified exports
from the United States to developing America and
potentially to other regions, including Africa where
demand for middle distillates is on the rise.
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