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Even with the sulphur cap expected to give a boost to the tanker market, high fleet growth will put pressure on earnings.
China is the world’s largest importer of crude oil, accounting for approximately 25% of global crude import volumes. The country’s crude imports are also equal to about 25% of global seaborne crude oil volumes which contributed to about 30% of dirty tanker trade tonne miles in 2021 according to Signal Ocean statistics. From 2010 to 2020, China’s crude imports grew at an average annual rate of 8.5% and have been the key demand driver for both crude oil and crude tanker demand.
Describing the Baltic ice conditions and services available for ships navigating the Baltic sea area during winter.
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