US Crude Oil Shipments to China Halt Amid Trade War

By Anne Marie Roantree
Wednesday, October 3, 2018

U.S. crude oil shipments to China have "totally stopped", the President of China Merchants Energy Shipping Co (CMES) said on Wednesday, as the trade war between the world's two biggest economies takes its toll on what was a fast growing businesses.

Washington and Beijing have slapped steep import tariffs on hundreds of goods in the past months. And although U.S. crude oil exports to China, which only started in 2016, have not yet been included, Chinese oil importers have shied away from new orders recently.

"We are one of the major carriers for crude oil from the U.S. to China. Before (the trade war) we had a nice business, but now it's totally stopped," Xie Chunlin, the president of CMES said on the sidelines of the Global Maritime Forum's Annual Summit in Hong Kong.

Ship tracking data in Refinitiv Eikon confirmed that U.S. crude oil shipments to China ground to a halt in September.

"It's unfortunately happened, the trade war between the U.S. and China. Surely for the shipping business, it's not good," the CMES president said.

He also said the trade dispute was forcing China to seek soybeans from suppliers other than the United States, adding that China now bought most its soybeans from South America.


(Reporting by Anne Marie Roantree; Writing by Henning Gloystein; Editing by Christian Schmollinger)

Categories: Tankers Finance Energy Government Update

Related Stories

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Sunda Energy Closing in on Jack-Up Deal for Chuditch-2 Appraisal Well

Driven by Oil & Gas, Norway Wealth Fund Approachs $2 Trillion

OPEC+ Passes on Oil Output Increase, Weighs the "Trump Effect"

TVO Selects Collins to Head Australian Ops

Yinson and PetroVietnam JV Get FSO Contract for Vietnamese Field

Makin' a List ... Trump Prioritizes Energy Exploration, Production, Export

BP Greenlights $7B CCUS Scheme Tied to Indonesia LNG Facility

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Current News

Argentina YPF to Shed Offshore Exploration Projects

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

Shell Hires Noble’s Drillship for Work in Southeast Asia

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

CNOOC Discovers ‘Vast Exploration Prospects’ in China’s Beibu Gulf Basin

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com