Storage firms are building capacity in the Mediterranean region to handle growing long-haul products trade as distances between refineries and consumers rise. Nearly 600,000 b/d of refining capacity has shut in the Mediterranean since 2011, 100,000 b/d is mothballed and under threat of permanent closure, and more closures are likely in southern France and the Italian mainland. The loss of refineries is boosting demand for terminals that can break or make bulk - transfer products from large tankers to smaller vessels for delivery to shallow-water ports, or build up larger cargoes to make long-haul shipments more viable.
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