Bloomberg News

China-Bound Crude Shipments Seen Falling 2.1% This Week

September 07, 2012

Crude-oil shipments aboard supertankers bound for China fell 2.1 percent this week, according to ship-tracking data compiled by Bloomberg.

Tankers with a total carrying capacity of 13.9 million deadweight tons are heading for the Asian nation, compared with 14.2 million last week. About 11 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 101.9 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 426 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      Last Share
                                           (Sept. 7)  (Aug. 31)
United Arab Emirates 28,659,228   52       22.1       19.6
Singapore            14,919,665   72       11.5       11.0
China                13,907,768   87       10.7       10.7
Japan                10,261,057   91       7.9        9.0
United States        8,314,201    92       6.4        6.2
South Korea          8,287,774    89       6.4        8.0
Saudi Arabia         5,527,290    51       4.3        4.8
India                4,609,556    91       3.6        3.2
Angola               3,683,783    49       2.8        2.8
Taiwan               2,722,766    87       2.1        3.1
Kuwait               2,449,646    51       1.9        2.6
Egypt                2,184,970    73       1.7        1.4
Qatar                1,838,633    63       1.4        1.6
Malaysia             1,769,057    71       1.4        1.3
Oman                 1,534,998    62       1.2        0.5
Nigeria              1,527,036    50       1.2        1.1
Iraq                 1,498,235    52       1.2        1.7
Thailand             1,494,472    78       1.2        1.1
Iran                 1,251,304    58       1.0        0.2
Venezuela            1,237,668    50       1.0        0.0
Netherlands          1,221,797    81       0.9        0.7
Indonesia            1,201,143    66       0.9        0.7
Brazil               624,716      71       0.5        0.5
Other                8,866,192    70       6.8        8.3
Total                129,592,955

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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