What Slowdown?

19 May 2017:  Since the early years of this century, China has been the growth engine of the bulk shipping markets.  In recent years, China’s annual growth rates have slowed from the heady double digit levels that were not unusual 10 years ago.  However, since the country’s absolute demand levels are so much higher, China’s lower growth rates still translate into material ton and ton mile demand expansion for the tanker market.  In this week’s Tanker Opinion, we will review China’s seaborne crude oil demand in 2017 to date and compare it to last year, both in terms of absolute levels of imports and sources of supply.

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