China to Overtake U.S. as Biggest Tanker User: Chart of the Day
This article is for subscribers only.
China will pass the U.S. in 2013 as the biggest user of tankers carrying oil at sea as Asian imports travel over longer distances and fewer cargoes go to the world’s biggest economy, according to Arctic Securities ASA.
The CHART OF THE DAY shows tanker use based on ton-mile demand, which multiplies cargo size by voyage length, is rising for China and dropping for the U.S., according to figures from the Oslo-based investment bank. Chinese tanker usage will gain 18 percent to 2.43 trillion ton-miles by 2013 as the U.S. falls 13 percent to 2.36 trillion, Arctic estimates.