Braemar spies product tanker opportunities as US refineries close

Accelerating California refinery closures could be set to boost clean tanker demand, according to UK shipbroker Braemar.

Last week, US independent Valero announced it would shut or repurpose its 145,000-barrels-per-day Benicia refinery near San Francisco by April.

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The company is also evaluating strategic alternatives for its 85,000-bpd Wilmington facility in Los Angeles, Braemar said.