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Suncor Lease Aframax Vessels in Pacific for TMX Start

OIL

Canada’s Suncor is leasing Aframax vessels in the Pacific to direct sell oil to customers from the new TMX pipeline the company said Wednesday.

  • The company expects most crude will be sold in California, as well as markets in Asia.
  • "We've leased Aframax vessels that were operating in the Pacific, this gives us an advantage on shipping costs," Dave Oldreive, Suncor's executive vice president of downstream.
  • Oil markets are watching to see the impact of the new pipeline and whether Asian demand increase, the impact on re-exports of Canadian barrels from the USGC and the change on heavy discounts which are already shrinking.
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