Those US tanker owners with a toe in the Jones Act market are counting themselves lucky. In contrast to the international tanker arena, which is overtonnaged and facing several more years of desultory returns, the domestic US tanker trades are booming. US oil production is rising and expected to average 7.3 million barrels per day (bpd) this year, up from a 60-year low of 5 million bpd in 2008. The turnaround stems primarily from the growing output of shale oil at a number of sizeable deposits across the country. Most of the shale oil is light, sweet crude with a low sulphur content.