China’s demand for imported oil is, and will, continue to be one of the key influences on the tanker market, according to industry experts Braemar Shipping Services plc. Demand growth in the country has progressed at an unprecedented pace over the last decade, a pattern universally anticipated to continue. This additional demand will increase China’s dependence on imported crude with beneficial knock-on effects for the tanker industry. Oil and Gas Journal estimates that Chinese refining capacity stood at 8.1m bpd as of 1st January 2011, exhibiting growth of 54% over the last decade.