Worldwide movements of products and chemicals will increase significantly in the next twenty years. U.S. shipments will decrease as a percentage world movements, but increase by over 10 million metric tons. U.S. domestic movements will remain static over the period. Presently, virtually all foreign trade in these commodities is carried in foreign flag ships. World P&C tanker fleets are projected to increase to match new volume requirements, but the U.S. flag fleet will decrease due to static volumes. Replacement and environmental regulations will drive new buildings rather than commodity volumes. U.S. shipyards, build only a small fraction of these ships--mostly product tankers. Although these ships offer a limited ownership opportunity to certain companies now, widespread ownership will depend on new legislative incentives.


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