Shippers move oil products, gasoline components to US east coast

09 November 2012 16:48  [Source: ICIS news]

LONDON (ICIS)--Owners with ships lying idle in the US Gulf have rushed to take the opportunity to move cargoes to the US east coast after the government waived the Jones Act in the aftermath of Hurricane Sandy, a source said on Friday.

The Jones Act is legislation which stipulates that any vessels shipping cargoes between US ports must be flying a domestic flag.

“Many ships open in the US Gulf took the opportunity to move well-paid cargoes to the stricken region,” the source said.

The US government has waived the act until 13 November so that vessels can ship oil products and gasoline components to the region in order to relieve pressure on fuel supplies.

($1 = €0.78)

By: Sarah Trinder
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index