Rising North American energy exports lead to tanker demand frenzy

Shipping operators and investors are pouring billions of dollars into building new oceangoing tankers to transport diesel, gasoline and aviation fuel in a scramble to keep up with North America's energy boom that's "transforming product-tanker shipping demand," Scorpio Tankers (STNG -0.6%) president Robert Bugbee tells WSJ.

STNG has grown from a little-known firm of a dozen or so ships in 2010 to the world's biggest products-tanker operator, with ~50 vessels; it boasts an order-book of 65 new ships worth $3.5-$4, expected to be delivered by early 2016.

In July, U.S. refiners exported a record 3.8M bbl/day of products, up nearly two thirds from 2010 exports.

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