Expected gains for VLCCs with the reopening of China may be limited by the continuing impact of Covid-19 and the worsening global outlook, according to shipbroker Braemar.
China ended its pandemic border controls on Sunday, raising hopes for an economic boost for the country, which consumes one-fifth of the world’s oil.
A return to normality is seen by tanker owners as a “wholeheartedly positive development” that would benefit the largest ships on the longest-haul routes, said Braemar.
