The product tanker market is bracing for another shift in trade patterns as Mexico’s much-anticipated refinery in Dos Bocas comes online.
Oil company Pemex has confirmed the new 340,000-barrel per day Olmeca plant has started processing its first crude.
Fearnley Securities analysts Fredrik Dybwad and Nils Thommesen said: “Once this refinery becomes fully operational, Mexican oil product imports from [mainly] the US will be reduced as Mexico becomes more self-supplied.”
