Down Under

 

In recent years, Australia’s refining sector has undergone a profound structural shift. Refinery rationalisation and Covid-19 related demand pressure led to the closure of several struggling refineries, following a prolonged downward trend. Recognising the implications for national security, the Australian Government intervened to keep the nation’s two remaining refineries - Lytton (109 kbd) and Geelong (120 kbd) in operation until at least 2027. Still, declining refining runs have driven a significant increase in Australian CPP imports since mid-2020 as the need to replace this lost refinery output ramped up, lending support to the regional MR market, with growing trade both from SE Asia and the Far East.

Download the full report

Please Contact Us at：

media@xindemarine.com