Ras Tanura Oil-Tanker Capacity Seen Falling 7.4% in Latest Week

The combined carrying capacity of oil tankers calling at Saudi Arabia’s Ras Tanura fell 7.4 percent in the week ended May 18, vessel-tracking data compiled by Bloomberg show.

The implied capacity of vessels calling at the world’s largest crude-export complex dropped to the equivalent of 7.71 million barrels a day from 8.32 million barrels for the prior week, according to signals gathered by IHS Fairplay, a Redhill, England-based maritime research company. The data may be incomplete because not all transmissions are captured.

The Ras Tanura complex, including Ras al-Ju’aymah, is the biggest 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 12:30 p.m. London time today. The percentages represent the share of the total number of ships loading at the terminal that each country is due to receive. Very large crude carriers are assumed to carry 2 million barrels apiece, twice as much as Suezmax tankers. The tally excludes vessels smaller than Aframaxes, each holding about 650,000 barrels.

Country             Barrels        Percentage   Percentage
                                   May 18       May 11
South Korea         12,000,000     22           14
U.S.                 6,000,000     11            3
Egypt                5,000,000      9            8
Singapore            5,000,000      9            7
China                4,000,000      7           10
Taiwan               4,000,000      7            3
South Africa         3,000,000      6           --
India                2,650,000      5           13
Japan                2,000,000      4           21
Malaysia             2,000,000      4           --
Thailand             2,000,000      4            3
U.A.E.               2,650,000      4           --
Spain                  650,000      1           --
Unspecified          3,000,000      6           12

Barrels             53,950,000
Bbl/day              7,707,143
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