Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,294.50 -12.67 -0.08%
S&P 500 1,650.51 -4.84 -0.29%
Nasdaq 3,459.42 -3.88 -0.11%
Ticker Volume Price Price Delta
STOXX 50 2,789.02 +12.24 0.44%
FTSE 100 6,710.94 +14.15 0.21%
DAX 8,387.19 +35.21 0.42%
Ticker Volume Price Price Delta
Nikkei 14,612.50 +128.47 0.89%
Hang Seng 22,646.00 -23.68 -0.10%
S&P/ASX 200 4,983.50 -78.95 -1.56%

Mexico Favoring Asia in Oil Seen Adding to Crude Tanker Demand

Rising Mexican crude oil exports to Asia are helping to boost demand for oil tankers because of the distances involved in the deliveries, according to Poten & Partners, a New York-based shipping consultant.

A measure of ship demand called ton-miles, multiplying cargoes by voyage lengths, expanded 8 percent this year for shipments from Mexico, Poten said in a report sent by e-mail Sept. 22. Demand for its crude from refineries in China, India and Spain is adding to tanker use, Poten said. Mexico normally sends more crude to U.S. refineries when its oil production strengthens, the company said.

To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Sponsored Link