Strong crude demand from Asian buyers continued to boost the VLCC market throughout October and well into November, with earnings reaching levels not seen since early 2011. The gains come despite China's crude imports dropping 14% year-on-year in October to 4.83 mb/d, the lowest since August 2012 and well below the 6.27 kb/d record in September. MR rates from the UKC failed to improve as the transatlantic gasoline arb to the US remained closed. USG-UKC earnings fell rapidly during October but another spike began at the end of the month.
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