12/29/2023 0 Comments Us oil consumption per day 2021Rates can be higher, at about $12,000 daily, for newer ships with sulphur abatement technology that allows them to use cheaper high-sulphur marine fuel oils. Some 76% of China’s seaborne crude imports are delivered via VLCCs, Lloyd’s List Intelligence data show. Between 195 and 220 tankers called monthly discharging between 9.7m bpd and 10m bpd over January-May.Īverage time charter rates for VLCCs are currently assessed at minus $21,000 per day for older, less fuel-efficient types, according to shipbroker Braemar ACM. This year’s demand estimate was revised slightly higher on the prior month, to 99.4m bpd, which is 1m bpd below 2019. ![]() About half of the world’s oil consumed is shipped by sea. However, China is expected to drive demand growth next year, with the IEA estimating global consumption to surpass 2019’s pre-pandemic level, rising to 101.6m bpd. ![]() News that the world’s biggest importer of seaborne crude and largest charterer of VLCC tonnage will be shipping less over the remainder of the year as it implements zero-Covid policies is another negative.Ĭhinese oil demand for 2022 was revised down to 15.4m barrels per day, 130,000 bpd lower than last year, according to the IEA’s monthly oil report. THE International Energy Agency has forecast that China’s oil demand will contract in 2022 for the first time this century, adding further pressure on charter rates for the very large crude carrier tanker segment.ĭemand headwinds continue to weigh on the 900-strong fleet of tankers, already battered by pandemic-induced, loss-making spot rates for more than 18 months. Special Investigation: Subterfuge Shipping.
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