vlcc supertanker crude oil tanker lightning stormy seas

102.5 Million Barrels of Oil Are Enroute to China, Right Now

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July 21, 2012

(Bloomberg) — Crude-oil shipments aboard supertankers bound for China fell 2.5 percent this week, according to ship-tracking data compiled by Bloomberg.

Tankers with a total carrying capacity of almost 14 million deadweight tons are heading for the Asian nation, compared with 14.3 million tons last week. About 10 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 102.5 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 571, 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
                                           (July 20)  (July 13)
United Arab Emirates 26,703,132   55       20.0       23.6
China                13,979,811   85       10.5       10.9
Singapore            13,772,112   68       10.3       8.4
Japan                11,133,567   89       8.3        8.5
United States        8,635,466    91       6.5        7.3
South Korea          7,952,261    90       6.0        5.8
Saudi Arabia         6,346,194    53       4.8        3.2
India                5,796,216    87       4.3        4.1
Angola               5,763,871    53       4.3        2.8
Taiwan               3,008,081    92       2.3        2.3
Malaysia             2,655,479    71       2.0        1.8
Nigeria              2,436,575    53       1.8        1.1
Egypt                2,431,693    81       1.8        2.1
Iraq                 2,092,826    51       1.6        2.1
Qatar                1,803,099    64       1.4        1.6
Iran                 1,515,868    64       1.1        0.5
Oman                 1,494,263    64       1.1        1.4
Thailand             1,489,766    87       1.1        0.7
Netherlands          1,245,873    82       0.9        0.7
Indonesia            1,225,357    86       0.9        0.5
Kuwait               926,871      50       0.7        1.6
Venezuela            634,039      49       0.5        0.5
Brazil               609,291      72       0.5        0.5
Other                9,832,452    68       7.4        8.0
Total                133,484,163
– Isaac Arnsdorf, Copyright 2012 Bloomberg
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