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Oil Tankers Stream Toward China as Price Drop Sparks Boom

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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 U.S., to accelerate bookings of oil cargoes. It will also shave almost $20 billion a year in fuel costs across the maritime industry if prices that dropped 18 percent since last November hold around current levels, according to data compiled by Bloomberg.