A tectonic shift under way in the global oil trade is increasing the average distance traveled by a typical barrel of oil. This is likely to push shipping rates higher and benefit shipping companies as well as shipbuilders. The U.S. energy boom is largely responsible for the shift, as sharply higher domestic production of oil and gas is moving the country off its perch as the world’s largest oil importer even as Asian appetites for hydrocarbons continue to rise—a good thing for traditional U.S. suppliers, including Latin America and West Africa, who are finding ready customers (much) farther away. For consumers, longer voyages mean increased fuel costs and freight rates, as the availability of shipping vessels diminishes in line with the increased time tankers are booked to cover extended distances. A team of analysts from DNB […]