Pipelines to China: emerging bearish factors for crude tankers
China is taking steps to secure its energy supply by expanding pipeline capacity — seaborne crude imports by the world’s largest energy consumer are growing at a slower pace than total imports. This is a significantly bad development for tanker owners at a time when oversupply persists.
The determination of the world’s top crude importer to pursue a One Belt, One Road Initiative appears to be bad news for tanker owners
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