ExxonMobil has announced its plan to close the Altona refinery for good due to weak profitability, paving the way for Australia to import more fuel and less crude.
Tanker experts have generally expected the ongoing refinery closures in Australia to boost demand for MR product tankers but reduce aframax and suezmax requirements.
In a statement issued on Wednesday, the energy major said the refinery with a processing capacity of 90,000 barrels per day (bpd) will be closed because it is no longer “considered economically viable”.
