Latin America has historically been home to both a large population and large refining base. However, decades of underinvestment and economic turmoil, coupled with overseas competition has seen regional players struggle to service domestic demand. Recent efforts to boost the continent’s refining capacity have failed, with Limetree Bay refining in St Croix the latest casualty, whilst Petrobras has sought to divest some refining assets. Just one credible refining project exists, with Pemex developing a greenfield project in Dos Bocas. So, what does this mean for regional tanker trade over the medium term?
The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
If you are a member, please login using the orange button at the top of the page to view the full article, or register.
If you are unsure of your membership, or wish to become a member, please contact firstname.lastname@example.org.
For general guidance and information on cargo-related queries.
Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.