Storms On The Horizon
As hurricanes and storms become increasingly more severe due to climate change and warming sea temperatures, so too has the impact on tanker shipping. Hurricane Ida was upgraded to a category 4 storm and made landfall on Sunday 29th August; with a focus on the Louisiana area which accounts for 3.4mbpd of refining capacity. Louisiana is home to 17 refineries, many of which were shut down due to widespread power outages and safety procedures. Estimates currently timetable a full return to normal operations in three weeks as power is restored, with 1.6mbd of capacity offline as of Thursday night.
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