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Late last week, an explosion at South Africa’s second largest refinery cast focus firmly on the East and South African refined products market. Engen’s 120,000 b/d Durban refinery is small by modern standards but combined with the ongoing outage at Astron Energy’s Cape Town plant (100,000 b/d), the nation’s product balances have moved more sharply into deficit. Weekly tanker market report by Gibson Shipbrokers.
The US product export market has been transformed over the past decade. Exports of clean petroleum products (CPP) averaged 2.5 million b/d last year, up from just 0.8 million b/d in 2008. Rising trade has been underpinned by rapid growth in US crude production and refiners’ access to cheaper crude feedstock. Refining margins in the US Gulf have generally been stronger in recent years, compared to those seen in other regional markets. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
There is a new version of BIMCO SmartCon and it combines the fast, simple and easy approach from the online version, together with the track changes and comments from Word. The editor is online and you don't need to install anything, the only requirement is that you have the latest version of a modern browser like Google Chrome and Microsoft Edge.
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