Poten: Changes afoot for Sub-Saharan crude and product trades

Jun 15 2021


For many years, West Africa represented a growth area for both crude oil and product tankers.

On the one hand, there were the ever-expanding exports from both existing and new crude oil producers. At the same time, economic growth, and a lack of refining capacity in the region stimulated more refined product imports. It was a win-win for shipping. Not unexpectedly, the Covid-19 pandemic disrupted this trend and crude oil and refined product trades into and out of West Africa declined.

 

While the impact of the pandemic is expected to fade over time, there are other developments in the region that could have a significant and lasting impact on trade flows and shipping.

 

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