Splash 247: China’s worst floods for 100 years impacting tanker trades

July 27, 2020

Reduced demand due to the flooding will have a negative impact on the economic recovery from the Covid-19 downturn, tanker brokers Poten warned in a new report. This will likely lead to lower crude oil imports in the coming months, and some “headwinds” for the crude oil tanker market, as Chinese inventories are already high from the elevated price-driven crude purchases in April and May, Poten suggested. 

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