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Tanker depression pushes owners to idle vessels

Chinese owners are said to have started idling their non-eco very large crude carriers, with ships at anchor off key tanker hubs, such as Singapore, and waiting for a market recovery

Lloyd’s List Intelligence data shows that at least 39 unladen VLCCs are at anchor off the southeastern coast of Malaysia and the Strait of Malacca. Not all are being idled, but more owners are expected to go down that path to reduce the bleeding should the dreadful market conditions continue

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