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New trade patterns to boost VLCCs

A Chinese appetite for cars and the country’s increasing import of oil from West Africa are going to boost rates for the currently hard-tried supertankers.

New trade patterns and an increased enthusiasm for cars in China will push up prices for supertankers in the long run and return profitability to the businesses of these Very Large Crude Carriers, VLCCs, which will be given longer distances to sail.

That is the assessment of several brokers and ship owners to whom news agency Reuters have spoken.

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