CHINA FACING REVAMP OF OUTMODED CRUDE TANKER TERMINAL SYSTEM

Expectations of soaring growth in China's crude oil imports has officials taking another look at the country's coastal crude oil tanker terminals. At first glance, plans to add China's coastal tanker terminal capacity would seem to slightly exceed projected needs. However, officials say, existing major terminals are already woefully underutilized. That overcapacity wall only worsen as plans proceed to construct a number of major new terminals to accommodate the expected surge in

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