Oslo-listed American Shipping Co (AMSC) expects the US Jones Act product tanker market to remain healthy for years yet.

The Lysaker-based owner said the entire fleet is fully employed, with short-term rates hitting $65,000 per day.

“The combination of demand for clean products across the US, increasing transportation needs for renewable diesel and favourable market conditions for transporting crude oil domestically drives the demand side in the Jones Act tanker market,” AMSC added.