Bloomberg News

Ras Tanura Oil-Tanker Capacity Seen Declining 13% in Latest Week

March 22, 2013

The combined carrying capacity of oil tankers calling at Saudi Arabia’s Ras Tanura fell 13 percent in the week ended March 16 from the prior period, vessel- tracking data compiled by Bloomberg show.

The implied capacity of vessels calling at the world’s largest crude-export complex decreased to the equivalent of 6.94 million barrels a day, compared with 7.94 million barrels for the week ended March 9, according to signals gathered by IHS Fairplay, a Redhill, England-based maritime research company. The data may be incomplete because not all shipping transmissions are captured.

The Ras Tanura complex, including Ras al-Ju’aymah, is the largest global crude terminal, according to the website of Saudi Arabian Oil Co., known as Saudi Aramco. Tankers hauling crude from the Persian Gulf may call at other loading ports before or after Ras Tanura, indicating they might have collected partial cargoes elsewhere.

The table below lists the destination countries of tankers calling at Ras Tanura in the latest week as of about 9 a.m. London time today. The percentages represent the share of the total of Ras Tanura-loaded ships each country is due to receive. Very large crude carriers are assumed to carry 2 million barrels each, twice as much as Suezmax tankers. The tally excludes vessels smaller than Aframaxes, each able to hold 650,000 barrels.

Country             Barrels        Percentage   Percentage
                                   March 16     March 9
China               10,000,000     21           14
Japan               10,000,000     21           22
South Korea          6,000,000     12            7
India                5,650,000     12            9
Thailand             4,000,000      8           --
U.S.                 4,000,000      8            4
Croatia              2,000,000      4            4
Taiwan               2,000,000      4            4
Saudi Arabia         1,650,000      3            7
Italy                  650,000      1           --
New Zealand            650,000      1           --
Unspecified          2,000,000      4           14

Barrels             48,600,000
Bbl/day              6,942,857

To contact the reporter on this story: Rob Sheridan in London at rsheridan6@bloomberg.net

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


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