China’s drive to reduce carbon emissions is set to lower its crude imports and favour vessels with better fuel efficiency, according to a senior analyst.
In the next official five-year plan due in 2021, the government is expected to require oil refineries to control their carbon footprint.
The new policy will probably translate into slower growth in Chinese refinery throughout and crude imports, Braemar ACM’s east of Suez tanker research head Anoop Singh said.
