Bloomberg News

Ras Tanura Oil-Tanker Capacity Seen Gaining 12% in Latest Week

June 07, 2013

The combined carrying capacity of oil tankers calling at Saudi Arabia’s Ras Tanura climbed 12 percent in the week ended June 1, vessel-tracking data compiled by Bloomberg show.

The implied capacity of vessels calling at the world’s largest crude-export complex increased to the equivalent of 8.23 million barrels a day from 7.37 million barrels for the prior week, according to signals gathered by IHS Fairplay, a Redhill, England-based maritime research company. The data may be incomplete because not all transmissions are captured.

The Ras Tanura complex, including Ras al-Ju’aymah, is the biggest 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 12:30 p.m. London time today. The percentages represent the share of the total number of ships loading at the terminal that each country is due to receive. Very large crude carriers are assumed to carry 2 million barrels apiece, twice as much as Suezmax tankers. The tally excludes vessels smaller than Aframaxes, each holding about 650,000 barrels.

Country             Barrels        Percentage   Percentage
                                   June 1       May 25
Japan               10,000,000     17           7.8
Egypt                9,650,000     17           13
South Korea          6,000,000     10           19
U.S.                 6,000,000     10           --
India                4,650,000      8           3.9
China                4,000,000      7           16
Singapore            4,000,000      7           7.8
U.A.E.               3,000,000      5           8.3
Malaysia             2,000,000      3           --
Oman                 2,000,000      3           --
Taiwan               2,000,000      3           3.9
South Africa         1,000,000      2           --
Saudi Arabia           650,000      1           --
Unspecified          2,650,000      5           9

Barrels             57,600,000
Bbl/day              8,228,571

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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