Bloomberg News

China-Bound Crude Shipments Seen Falling 2% Last Week

April 11, 2012

Crude-oil shipments aboard supertankers bound for China fell 2 percent last week, according to ship-tracking data compiled by Bloomberg.

Vessels with a total carrying capacity of 18.9 million deadweight tons were heading for the Asian nation as of April 6, down from 19.3 million tons in the preceding week. About 14 percent of the fleet of the largest oil tankers signaling future destinations was bound for China, the world’s biggest energy consumer. The ships would haul about 138.6 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 439 very large crude carriers, out of a global fleet of 559, 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 last week and the week before.

Destination          DWT          Draft    Share      Last Share
                                           (April 6)  (March 30)
United Arab Emirates 25,983,632   53       19.5       19.7
China                18,914,374   89       14.2       14.8
Singapore            11,554,413   69       8.7        11.0
Japan                10,186,985   88       7.6        9.0
United States        10,098,437   93       7.6        8.0
South Korea          8,490,315    91       6.4        4.9
Saudi Arabia         7,295,462    51       5.5        5.1
India                5,518,006    87       4.1        3.3
Angola               4,256,183    54       3.2        3.2
Oman                 2,429,862    68       1.8        1.4
Egypt                2,163,474    82       1.6        1.6
Taiwan               2,088,384    87       1.6        1.4
Kuwait               2,085,314    58       1.6        2.1
Iraq                 1,838,173    55       1.4        1.2
Qatar                1,545,166    53       1.2        1.4
Nigeria              1,520,035    49       1.1        1.4
Venezuela            1,511,420    51       1.1        0.5
Thailand             1,509,304    72       1.1        2.1
Netherlands          931,633      79       0.7        1.0
Brazil               853,914      81       0.6        0.2
Malaysia             587,472      77       0.4        0.5
Iran                 566,837      54       0.4        0.7
Hong Kong            319,429      62       0.2        0.0
Other                11,058,162   69       8.3        5.8
Total                133,306,386

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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