Tanker Operator: China Plans Domestic Tanker Orders

“Chinese shipowners were thought to be planning a new tranche of tanker newbuildings at domestic yards to gain further control of their country’s oil import market. At a seminar held in New York this week, several prominent players gave their opinions about Chinese expansionary plans. ‘In our conversations with Chinese owners and oil companies a month or two ago, the target level of Chinese barrels to be moved on Chinese ships was said to be in the 40% range,’ reportedly said Poten & Partners marine research head Megan McCurdy. ‘It is much less than that now,’ she added.”