{"id":1522,"date":"2014-11-13T06:40:45","date_gmt":"2014-11-13T11:40:45","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1522"},"modified":"2014-11-13T06:40:45","modified_gmt":"2014-11-13T11:40:45","slug":"oil-tankers-stream-toward-china-as-price-drop-sparks-boom-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1522","title":{"rendered":"Oil Tankers Stream Toward China as Price Drop Sparks Boom &#8211; Bloomberg"},"content":{"rendered":"<p><a href='http:\/\/www.bloomberg.com\/news\/2014-11-12\/oil-tankers-stream-toward-china-as-price-drop-sparks-boom.html'>Oil Tankers Stream Toward China as Price Drop Sparks Boom &#8211; Bloomberg<\/a>.<\/p>\n<p>Add oil shippers to the list of winners from this year\u2019s collapse in crude.<\/p>\n<p>The price plunge has spurred China, the world\u2019s 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.<\/p>\n<p>While the oil slide is hurting nations from Saudi Arabia to Iran that depend on energy for revenues, companies including airlines and cement makers are benefiting as their fuel costs decline. Ship owners serving the industry\u2019s benchmark Middle East-to-Asia trade routes are reaping the best returns from charters in years as the slump drives down the industry\u2019s single biggest expense.<\/p>\n<p>\u201cWe\u2019ve seen the Chinese buying a lot from the Middle East and that\u2019s really let rates cook,\u201d Erik Stavseth, an analyst at Arctic Securities ASA in Oslo whose recommendations on shippers returned 15 percent in the past year, said by phone Nov. 11. \u201cWith oil prices low going into winter, that\u2019s likely to continue.\u201d<br \/>\n&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil Tankers Stream Toward China as Price Drop Sparks Boom &#8211; Bloomberg. Add oil shippers to the list of winners from this year\u2019s collapse in crude. The price plunge has spurred China, the world\u2019s second-biggest importer after the U.S., to accelerate bookings of oil cargoes. It will also shave almost $20 billion a year in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[130,522,588,592],"class_list":["post-1522","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-china","tag-middle-east","tag-oil","tag-oil-price"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1522"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1522\/revisions"}],"predecessor-version":[{"id":1523,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1522\/revisions\/1523"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}