2016: ASIAN MARKET TROUBLE
Asia's fuel oil market faces more trouble in 2016 because of plunging demand from independent Chinese refiners and as Asia's slowing economies dent consumption in power plants and seaborne trading.
With China's economy growing at its slowest pace in a generation and Asia's trading powerhouses Japan and South Korea struggling to create growth, Asian fuel oil demand for container ships should stagnate in 2016, putting more pressure on a market that struggled last year.
Rates for dry-bulk ships have also hit several record lows since December as overcapacity clashes with slowing demand.
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