Jones Act tanker duo see uplift fuelled by scrapping and shale

Executives of two Jones Act tanker owners have painted a picture of a market that could start improving — but not until 2019.

American Shipping chief executive Paal Magnussen told TradeWinds that demand growth for Jones Act tankers, which ply the protected US cabotage trades, could combine with an improved vessel supply scenario over the next two to three years to help rates.