Economics
U.S. Refining Surge Fills Tankers Taking Fuels to Latin America
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The U.S. refining surge is lifting tanker rates to the highest in at least three years as demand accelerates for vessels carrying the processed fuels to buyers in Latin America and the Caribbean.
Tankers shipping about 38,000 metric tons of refined fuels to Rio de Janeiro from Houston earned an average of $31,050 a day last week, according to data from Clarkson Plc. That’s the highest since at least December 2010, when the world’s largest shipbroker began publishing the data.