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Slow recovery, sporadic rallies to be hallmarks for tankers Dirty and clean tanker markets across Asia-Pacific are expected to stage a modest recovery next year, but pre-pandemic demand is unlikely to return anytime soon, unless there are a series of bullish surprises. Freight market participants do not expect next year to be worse off than second-half 2020 in terms of tanker demand, but are projecting a slow recovery with occasional bursts of rally. They cite the example of the recent spike in clean tanker rates to a six-month high due to strong distillates demand in Australia, where the Kwinana refinery is being shut down and a potential Chinese export surplus of almost a million b/d.

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