Shipbroker Gibsons says “the long-awaited change” in the product tanker market due to start-up of Nigeria’s 650,000 barrels per day Dangote refinery appears to be approaching, but it might not be quite what the sector is expecting.
The plant near Lagos imported its first crude cargo last December, and over the past three months, imports averaged between 230,000 bpd and 310,000 bpd, mainly consisting of Nigerian grades, supplemented by US barrels.
