MarineLink News Search
Search term • U.S.-Oil-Imports-Up
Create an email alert for U.S.-Oil-Imports-Up
China Goes from Driver to Brake for Crude Oil, Iron Ore and Copper
China has switched from driving global demand for major commodities to being a drag on growth, with July's customs data confirming the weakening trend for imports of crude oil, iron ore and copper.The exception to the trend was coal, but the sharp gain in July's imports of the polluting fuel are more a result of China having to go the seaborne market because of domestic policies that curbed local output.China…
Oil Slides 4% on China Virus Curbs, Climate Warning
Oil prices fell by 4% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.A United Nations panel's dire warning on climate change also added to the gloomy mood after fires in Greece have razed homes and forests and parts of Europe suffered deadly floods last month.Brent crude futures fell by $2.82…
China Crude Processing Spikes to All-time High
Chinese refinery crude oil throughput has reached its highest level ever, with total processed volumes up 12% in the first five months of this year compared to 2020, and up 10.9% from the same period in 2019. In total 292.7m tonnes have been processed so far this year according to the National Bureau of Statistics China.Despite the 12.0% growth in crude oil processing, Chinese crude oil supply, which includes imports and domestic production…
Mexican Yard Services US-sanctioned Tankers that Carry Venezuelan Oil
Three Cuban-flagged tankers that are under U.S. sanctions for transporting Venezuelan oil to the Communist-run island have been serviced in the port of Veracruz on Mexico's Gulf coast…
U.S. Crude Oil Exports: When 'Less is More'
Longer sailing distances cushion fall in US crude oil exportsTon mile demand generated by US crude oil exports has fallen by 9.7% in the first two months of 2021 compared with the start of 2020. The fall could however have been much worse; In volume terms, seaborne crude oil exports have fallen by 18.8%, to 20.9m tonnes, a 4.8m tonnes decline compared with last year, according to data from the US Census Bureau.While seaborne crude oil exports to all regions have fallen…
First Crude Cargo from Guyana to India Sets Sail
The first cargo from new oil producer Guyana to the world's third-largest crude importer, India, departed this month from a production facility off the South American nation's coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday.India has asked refiners to speed up the diversification of imports to cut their dependence on Middle Eastern crudes after OPEC+ this month decided to extend production cuts through April…
Tanker Shipping Facing a Tough Year Ahead, Says BIMCO
After a turbulent year, low demand looks set to plague the market in the coming months combined with too many ships fighting for too few cargoes in both the crude oil and oil product segments, says the oil tanker shipping overview and outlook released today by BIMCO.Demand drivers and freight ratesThe realities of the pandemic are setting in for the tanker market. The record-breaking Q2 2020 is a distant memory and…
BIMCO: Tanker Market Hangover Continues
Tanker shipping was in many ways the odd one out of the shipping sectors in 2020; at the start of the pandemic, the market was strong, only to finish off the year in the doldrums, while the other sectors stayed profitable. Even a demand boost in December only managed to lift earnings slightly, raising the question, what will it take for tankers to return to profitability?In the immediate aftermath of the pandemic being declared…
China Low-sulphur Marine Fuel Exports Hit New Heights
China's exports of clean marine fuels rose in December to a record since shipments began a year ago, taking 2020 exports of the ship fuel to 15.45 million tonnes, customs data showed on January 20, 2021.Chinese oil refineries began exporting very low-sulphur fuel oil (VLSFO) in January to comply with emission rules set by the International Maritime Organization (IMO), after Beijing granted tax incentives to boost production and help create a regional bunkering hub.
BIMCO: Zero Tonnes of Saudi Crude Oil Imported by the US
In the seven days up to 1 January 2021, the US did not record any crude oil imports from Saudi Arabia. It is the first time this has happened. Previously, imports have averaged several hundred thousand barrels per day (bpd), BIMCO said in "BIMCO’s Shipping Number of the Week" report.For the moment, this drop to zero appears to be a one off as imports in the week ending 8 January totalled 328,000 bpd.
China's 2020 Crude Oil Imports Hit Record
China's total crude oil imports surged 7.3% in 2020 despite the coronavirus shock early in the year, with record arrivals in the second and third quarter amid plunging oil prices and expanding refineries, data showed on Thursday.For 2020, the world's top oil buyer brought in a record 542.37 million tonnes of crude oil, or 10.85 million barrels per day (bpd).December shipments were 38.47 million tonnes, equivalent to 9.06 million bpd, according to data released by the General Administration of Cu
BIMCO on Tanker Shipping; The Worst is Not Over
While the tanker market had a strong run at the outset of the COVID-19 pandemic, according to a report released this morning by BIMCO, tanker shipping will not benefit this year from the usual strong winter seasonal effect. Though the new lockdowns being introduced in many countries are less strict than in the spring, the effect on tanker shipping will be worse, given the supply glut of Q2. The news of an effective vaccine offers some hope of a global oil demand recovery but…
Box Ship Rescues Sailors in Storm Sally
The captain and crew of a Hong Kong-flagged containership came to the rescue of a sailboat crew in distress on Sunday amid severe weather and waves during storm Sally, in the Gulf of Mexico, some 130 nautical miles west of Port Tampa Bay, Fla.The COSCO SHIPPING Lines containership COSCO Malaysia was en route from Mobile, Ala. to Port Tampa Bay when it received a distress call from the sailboat Yes Dear at 8:22 a.m.
Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.The hurricane is disrupting oil imports and exports as the nation's sole offshore terminal, the Louisiana Offshore Oil Port (LOOP), stopped loading tanker ships on Sunday, while the port of New Orleans closed on Monday.The U.S.
China's Surging Crude Imports Mask Weakness in the Rest of Asia
The ongoing flood of crude oil into China is obscuring the fact that demand in the rest of Asia remains weak, and that countries in the world's top-consuming region didn't join China is stocking up when prices slumped.China's crude imports set consecutive records in May and June, and will remain at high levels in July and likely August too, as the massive volumes of oil bought during a brief price war in April enter the country.China imported 12.9 million barrels per day (bpd) in June…
China's Saudi Oil Imports Surge to All-time High
China's crude oil imports from Saudi Arabia nearly doubled in May from a year earlier to all-time high as refineries snapped up cheap fuel, while the kingdom retained its position as the top supplier to the world's biggest oil buyer.Arrivals from Saudi last month reached 9.165 million tonnes, or 2.16 million barrels per day (bpd), up about 95% from 1.11 million bpd in May 2019 and up 71% from 1.26 million bpd in April…
BIMCO Tanker Rate Analysis: Reality Kicks In, Rates Fall
Tanker shipping: sky high freight rates replaced by reality of falling global oil demandGeopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand. Tanker shipping looks set to be under pressure for the rest of the year.Demand drivers and freight ratesThe tanker shipping industry was once again caught in a whirlwind, as freight…
Spanish Crude Oil Imports Fall to Six-year Low
Spanish crude oil imports fell 11.7% in the first three months of 2020 from the same period in the previous year, national oil and gas agency CORES said on Friday, as movement restrictions to stop the new coronavirus spreading sapped demand for fuel.Spain imported 5,063 kilotonnes of crude oil in March, 10.6% less than in the same month last year, CORES said.The quantity imported in the first quarter was the lowest for that period of the year since 2014, CORES said.(Reporting by Isla Binnie, Edi
China's Crude Oil Imports Rebound in April
China's crude oil imports rebounded in April from a month earlier on daily basis as refiners ramped up output amid a recovery in fuel demand with the impact of the coronavirus outbreak easing while crude prices crashed on slumping consumption elsewhere.Crude oil arrivals were 40.43 million tonnes last month according to a full data table released by the General Administration of Customs on Thursday…
China's Crude Imports from Saudi Slip, Russia Up 31%
China's March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, while purchases from No.2 supplier Russia rose 31%, Reuters' calculations based on customs data showed on Sunday.China's March crude oil imports rose 4.5% year on year to 9.68 million barrels per day (bpd) as refiners stocked up on cheaper cargoes despite falling domestic fuel demand and cuts in refining rates due to the impact the COVID-19 pandemic.Shipments from Saudi Arabia were 7.21 million tonnes…