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More oil cargoes head for China as oil prices plunge
Published Sun, Nov 16, 2014 · 09:50 PM
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 maritime industry if prices that dropped 18 per cent since last November hold around current levels, according to data compiled by Bloomberg.
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