US-bound Tanker Traffic Surges

Shortages of crude oil in Europe, Asia and uncertainty about the Strait of Hormuz as well as surging prices are causing a sharp increase in petrochemical tankers heading to the United States. During a typical month, around 110 tankers arrive at various ports in the Gulf of America, according to Windward, a company specializing in maritime intelligence and analysis. But the firm estimates that around 171 ships are currently in-bound, representing a hike of more than 50%. Vessel tracking sites including marinetraffic.com show the surge (petrochemical tankers appear as red triangles).

One market research firm estimates that crude oil exports from the U.S. will top five million barrels a day this month, which would be up by about one-third from March.

America’s Gulf coast is a huge player in the nation’s petrochemical industry. Ports seeing the most traffic include Houston, Corpus Christi (the country’s largest outbound gateway), south Louisiana (along the Mississippi river), Beaumont, Port Arthur, Lake Charles, Baton Rouge, New Orleans and Mobile.