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China’s owners expect VLCC sluggishness until 2022

The current market upheaval will continue until 2022, after which a recovery is expected to settle in with the ebbing of the pandemic’s impact and rise in Asian refineries, an oil and gas forum in China has been told

As Cosco Shipping Energy Transportation aims to achieve a ‘leapfrog development’ in its VLCC fleet size, China Merchants Energy Shipping is warning that owners need to ‘show discipline when developing carrying capacities’

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