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More oil cargoes head for China as oil prices plunge

Monday, November 17, 2014 - 05:50
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The biggest tankers earned an average of about US$28,000 last month shipping Middle East oil to Asia, Baltic Exchange data show.

London

ADD oil shippers to the list of winners from this year's collapse in crude.

The price plunge has spurred China, the world's second-biggest importer after the US, to accelerate bookings of oil cargoes. It will also shave almost US$20 billion a year in fuel costs across the