China’s reopening puts the wind in GE Shipping’s sails

According to Vortexa, a global water-borne oil and gas flow data and analytics company, 1.2 billion barrels of crude oil were on the water in the first week of March, highest since 2016 as the demand has shot up after China, the world’s largest oil importer ended covid-related lockdowns last year. This has led to a sharp surge in freight rates according to reports.

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