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Iranian oil crucial for VLCC recovery, says China Merchants

Chinese shipowner China Merchants Energy Shipping forecasts crude shipping will remain soft for the first half of the year

A nuclear deal between the US and Iran to lift the sanctions on the latter country will spur the demolition of old very large crude carriers used on the unconventional trade. What is more, it will ‘substantially brighten the market outlook and lift owners’ confidence,’ says CMES 

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