Bloomberg News

China Share of Biggest Oil Tankers Seen Falling in Tracking Data

July 06, 2012

China’s share of crude-oil deliveries by supertankers is poised to fall by 1.5 percentage points, according to a snapshot of signals from the vessels today and a week ago.

About 11 percent of the world’s very large crude carriers are bound for the nation’s ports, compared with 12.6 percent as of June 29, according to the signals. They were compiled at about 8 a.m. in London today.

The ships’ combined carrying capacity fell to 14.3 million deadweight tons from 16.5 million tons. They would be able to haul about 105.2 million barrels of oil, assuming a conversion factor of 7.33 million barrels a ton. Each VLCC can transport about 2 million barrels.

The following table shows the destinations and combined carrying capacity in deadweight tons of 425 VLCCs, out of a global fleet of 570, 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 previous weeks.

Destination             Capacity    Draft  Share     Share
                                           (July 6)  (June 29)
United Arab Emirates    27,170,825    54    21.1      20.2
China                   14,346,409    87    11.1      12.6
Singapore               11,928,314    71     9.2       9.9
Japan                   11,411,357    89     8.8       8.5
Other                   10,622,309    53     8.2       8.2
U.S.                     8,362,935    89     6.5       6.3
South Korea              7,876,714    89     6.1       7.2
India                    5,747,932    90     4.5       5.7
Saudi Arabia             5,481,164    51     4.2       4.9
Angola                   3,956,479    53     3.1       2.8
Iraq                     3,035,685    49     2.4       1.1
Taiwan                   2,666,354    84     2.1       1.6
Kuwait                   2,412,978    50     1.9       0.9
Egypt                    2,181,732    77     1.7       1.2
Netherlands              1,873,141    71     1.5       1.4
Oman                     1,799,719    55     1.4       1.4
Nigeria                  1,210,841    57     0.9       0.7
Malaysia                 1,162,518    78     0.9       1.6
South Africa               926,604    86     0.7        --
Venezuela                  918,874    51     0.7       0.7
Qatar                      916,033    52     0.7       1.4
Thailand                   906,409    88     0.7       0.7
U.K.                       634,851    87     0.5
Iran                       619,499    69     0.5       0.7
Brazil                     309,270    98     0.2       0.2
Indonesia                  300,149    85     0.2       0.2
Algeria                    297,538    51     0.2        --
Total                  129,076,633

To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net


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