With news of a fire at the Colonial Pipeline - clean rates spiked significantly (in case you were wondering why STNG shot up today).
With clean products from the USG to the USAC unable to move via pipeline - the natural back up plan would be to ship more of them from Europe into the USAC. Rates on the TC2 route shot from WS 87 to WS 150 - which adds roughly $1/bbl to the delivered cost. Viewed in terms of what that means to Owners - their TCE jumped from $5k/day to $18k/day. That said - there is talk that the pipeline will be repaired in short order - implying rates will come down pretty quickly. If, however, the pipeline doesn’t get repaired within a week or so, Owners smell blood and will hold out for the high rates seen today - maybe higher.
Worth noting is that the USG export market should also benefit from this - since product that would normally be moved via pipeline will likely be moved on ocean going tonnage - either Jones Act or international flag - implying the TC14 market could move up as well.