Tanker shipping market and Hurricane Sandy

By Finance

The devastating hurricane Sandy had made a huge impact on gasoline trade. Temporary petrol products are affected. The shortage of petrol was observed in New York and New Jersey.
The biggest problem in delivering gasoline products is the continued closure of the main tanker discharge terminals, thus prohibiting the barge, pipeline or truck distribution to retail stations.
Port Authority of New York and New Jersey declared that ports will be not operational until all necessary inspections are made. Infrastructure of the ports is in good condition but the problem is the corrosive seawater.
It appears that Hurricane Sandy is a short-term event and will not affect much the market.
But we have to consider that the problems on land are not completely good.
There is information that 2 days ago the Colonial pipeline had resumed operations to its tank farm in Linden New Jersey with delivery volumes expected to be normal at 700,000 b/d. Besides, the company assumes that 3 more lines to be restarted.