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China Oil Slowdown Drags Down Tanker Trade – Shipping News

“Total loadings in the whole 12 months of 2021 were down 2.5% year on year to 1,983 million tonnes,” the broker said

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China tanker
A dock worker looks at an oil tanker unloading crude oil at a port in Qingdao, Shandong province. Photo: China Daily via Reuters

 

A slowdown in seaborne crude oil imports from China, the biggest market for tankers, has inevitably hurt the segment, Hellenic Shipping News reported, citing data from shipbroker Banchero Costa.

“Total loadings in the whole 12 months of 2021 were down 2.5% year on year to 1,983 million tonnes,” the broker said. “This follows an even more dramatic 6.1% year-on-year decline in 2020.”

Read the full report: Hellenic Shipping News

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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