Bloomberg News

China-Bound Crude Shipments Seen Rising 4.1% This Week

March 23, 2012

Crude-oil shipments aboard supertankers bound for China rose 4.1 percent this week, according to ship-tracking data compiled by Bloomberg.

Vessels with a total carrying capacity of 18.9 million deadweight tons are heading for the Asian nation, up from 18.2 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 138.7 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 434 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 23) (March 16)
United Arab Emirates 22,192,513   53       16.8       18.5
China                18,923,066   86       14.3       14.6
Singapore            13,987,014   64       10.6       8.5
United States        10,180,284   94       7.7        7.1
Japan                9,902,361    89       7.5        9.6
South Korea          7,289,404    88       5.5        4.4
Saudi Arabia         7,227,223    53       5.5        5.2
India                3,985,570    92       3.0        2.9
Egypt                3,680,463    80       2.8        3.0
Angola               3,652,216    51       2.8        2.9
Oman                 2,741,952    63       2.1        1.5
Kuwait               2,419,629    57       1.8        1.7
Taiwan               2,376,194    93       1.8        1.9
Iraq                 2,162,709    54       1.6        2.0
Qatar                1,801,457    61       1.4        1.7
Iran                 1,524,561    50       1.2        1.9
Thailand             1,513,100    80       1.1        1.2
Nigeria              1,235,042    52       0.9        1.5
Netherlands          949,917      78       0.7        0.3
Malaysia             859,948      90       0.7        0.7
Venezuela            317,563      44       0.2        0.8
Other                13,048,869   68       9.9        8.3
Total                131,971,055

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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