Despite the wider chaos wrought by coronavirus, tanker experts believe one impact of the pandemic will be to leave a defining mark on tanker markets — redrawing the long-term landscape of the global refining industry.
Many small, ageing refineries in Europe, the US and Oceania have been permanently shut down since last year due to dwindling oil consumption during the Covid-19 crisis, while large, modern refineries are slated to start operations in China, Africa and the Middle East in the coming years despite delays.
