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MISC upbeat on petroleum shipping business

MISC cited fewer deliveries and growing long-haul prospects, as well as demand growth from sulphur cap regulations, as reasons for optimism in the petroleum shippng segment. LNG spot rates have been soft recently, but capacity expansion in North America and the Middle East is expected to result in increased requirements for vessels

MISC warns that the coronavirus outbreak has posed risks to the oil and tanker market and it could face short-term headwinds

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