China’s shipyards secure wave of oil tanker orders as Iran war drives demand

China’s shipyards are emerging as beneficiaries from the US-Israeli war on Iran, securing new orders as crude transport bottlenecks worsen and global demand for large oil tankers rises. With the United States and Iran effectively blockading the Strait of Hormuz – a chokepoint that handles about a quarter of the world’s seaborne oil – shipping companies are racing to expand capacity, particularly in very large crude carriers (VLCCs) capable of transporting about 2 million barrels of oil per...

By Mia Nurmamat