Ras Tanura Oil-Tanker Capacity Seen Declining 13% in Latest WeekRob Sheridan
The combined carrying capacity of oil tankers calling at Saudi Arabia’s Ras Tanura fell 13 percent in the week ended March 16 from the prior period, vessel-tracking data compiled by Bloomberg show.
The implied capacity of vessels calling at the world’s largest crude-export complex decreased to the equivalent of 6.94 million barrels a day, compared with 7.94 million barrels for the week ended March 9, according to signals gathered by IHS Fairplay, a Redhill, England-based maritime research company. The data may be incomplete because not all shipping transmissions are captured.
The Ras Tanura complex, including Ras al-Ju’aymah, is the largest global crude terminal, according to the website of Saudi Arabian Oil Co., known as Saudi Aramco. Tankers hauling crude from the Persian Gulf may call at other loading ports before or after Ras Tanura, indicating they might have collected partial cargoes elsewhere.
The table below lists the destination countries of tankers calling at Ras Tanura in the latest week as of about 9 a.m. London time today. The percentages represent the share of the total of Ras Tanura-loaded ships each country is due to receive. Very large crude carriers are assumed to carry 2 million barrels each, twice as much as Suezmax tankers. The tally excludes vessels smaller than Aframaxes, each able to hold 650,000 barrels.
Country Barrels Percentage Percentage March 16 March 9 China 10,000,000 21 14 Japan 10,000,000 21 22 South Korea 6,000,000 12 7 India 5,650,000 12 9 Thailand 4,000,000 8 -- U.S. 4,000,000 8 4 Croatia 2,000,000 4 4 Taiwan 2,000,000 4 4 Saudi Arabia 1,650,000 3 7 Italy 650,000 1 -- New Zealand 650,000 1 -- Unspecified 2,000,000 4 14 Barrels 48,600,000 Bbl/day 6,942,857