Mega refineries require use of new oil products supertankers
Traders are looking for scale that was previously not economically viable
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London
THE rapid growth of mega refineries is prompting a new class of oil products supertankers, mirroring an earlier revolution in crude oil shipping, as traders look for scale that was previously not economically viable.
In the early 1970s, ships capable of carrying two million barrels of crude oil were built to mitigate disruptions from the closure of the Suez Canal and to meet growing global demand. Now, the products trade is spurring similar innovation.
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