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Dangote Ramp Up Could Pressure Europe Clean Tankers: Gibson

FREIGHT

When Nigeria’s 650k b/d Dangote refinery hits full capacity, demand for medium-rage and large-range clean tankers will fall as it curbs Nigeria’s gasoline imports, Bloomberg said citing Gibson.

  • While the higher-spec diesel and jet fuel from Dangote could find outlets in Europe, these are likely to be back-haul cargoes for tankers shipping fuels to the rest of WAF.
  • Dangote could also limit flows on East of Suez or USGC to Europe, putting downward pressure on those markets, Bloomberg said.
  • Dangote is not expected to reach full production until Q4 or early 2025.

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