Bloomberg News

China-Bound Crude Shipments Fell 5% This Week, Fleet Data Show

March 09, 2012

Crude-oil shipments aboard supertankers bound for China fell 5 percent this week, according to ship-tracking data compiled by Bloomberg.

Vessels with a total carrying capacity of 18.1 million deadweight tons are heading for the Asian nation, down from 19.1 million tons last week. About 14 percent of the fleet of the largest oil tankers signaling future destinations is bound for China, the world’s biggest energy consumer. The ships would haul about 132.8 million barrels of oil, assuming a conversion factor of 7.33 barrels a ton.

The following table shows the destinations and combined carrying capacity in deadweight tons of 430 very large crude carriers, out of a global fleet of 560, according to data compiled by Bloomberg. Average drafts are expressed as a percentage of maximum sailing depth and are an indication of cargo size. Each country’s percentage share of total oil shipments is shown for the current and prior weeks.

Destination          DWT          Draft    Share      Last Share
                                           (March 9)  (March 2)
United Arab Emirates 24,193,013   52       18.5       18.5
China                18,121,227   86       13.9       14.4
Singapore            13,666,654   69       10.5       12.1
Japan                12,431,564   87       9.5        8.3
United States        10,429,747   93       8.0        7.9
South Korea          7,633,797    91       5.9        4.8
Saudi Arabia         5,465,099    52       4.2        4.8
India                4,210,326    94       3.2        3.6
Egypt                3,620,641    87       2.8        2.8
Iran                 2,773,476    52       2.1        0.9
Angola               2,468,017    51       1.9        3.0
Iraq                 2,115,244    50       1.6        1.1
Nigeria              1,510,621    53       1.2        1.2
Oman                 1,503,018    56       1.2        0.7
Taiwan               1,494,695    93       1.1        1.6
Malaysia             1,476,789    90       1.1        0.2
Qatar                1,438,959    60       1.1        1.6
Venezuela            1,259,514    50       1.0        0.2
Kuwait               1,219,542    51       0.9        1.4
Thailand             1,189,996    92       0.9        1.1
Netherlands          620,966      70       0.5        0.9
Hong Kong            596,192      76       0.5        0.5
Brazil               309,270      93       0.2        0.5
Other                10,710,466   68       8.2        8.0
Total                130,458,833

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net


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