The variety of supertankers certain for China has fallen to its lowest level in nearly two years, adding to recent concerns about demand from the most important oil importer within the second half of the yr.
Only 86 of the tankers list China as their next destination in the following three months, five fewer than last week. That’s the bottom weekly figure since August 2022, in response to data compiled by Bloomberg.
The outlook for Chinese demand this half of the yr is showing signs of weakness, potentially posing headwinds for crude oil prices. Concerns include that refineries are getting back from seasonal maintenance more slowly than expected, that some key suppliers are buying less in July and that monthly import volumes may decline.
About 35 tankers are on their solution to the USA, two fewer than per week ago. Fourteen ships went to Angola, the best rate because the end of April. The South African producer has increased exports since leaving the OPEC+ group. Click here to view a PDF with more details on the targets.
A complete of 546 vessels indicated their future destinations on Friday. The data relies on vessels with arrival dates through October 3 on MAP. Voyages are subject to alter, and 37 of the tankers didn’t indicate a transparent destination.
