Kpler Crude Oil (Historical record imports to China)

Originally Released on 13 April 2017

Asian imports – March

Chinese customs released March import figures and reported an historical record high that reached 9.2 mmbpd (+1.3 mmbpd vs Feb). Kpler reported 9 mmbpd (+1.2 mmbpd vs Feb) a few weeks ago.

China, India, Japan and South Korea reported a combined jump on imports of approx 1.6 mmbpd, attaining 19.6 mmbpd of combined imports, as shown in the chart below:

China, India, Japan and South Korea imports – kbd

Forties and Ekofisk – VLCCs

CPC March exports reached record high volumes. The terminal exported 38,990,365 barrels (1258 kbd) of crude oil in March, according to the Caspian Pipeline Consortium. Kpler reported 1224 kbd for the same period.
Shipments heading toward Netherlands increased significantly (+104 MtM and +73 YtY) as shown in the chart below:
CPC exports – split by destination country
  • Volumes shipped to Asia remained high at 137 kbd, slightly below February levels (143 kbd).
CPC exports to Asia – split by country of destination – kbd
  • April market data shows that at least one CPC shipment will head towards Asia. Suezmax Vilamoura was fixed by Listasco for a CPC/India voyage. She’s currently loading her cargo at CPC SPM.

US exports

US exports week-ending 04/14 are likely to remain at the same level  than exports week-ending 04/07. Kpler showed 641 kbd US exports for week-ending 04/07 (vs 689 kbd reported by EIA). Exports for week-ending 04/14 reached 676 kbd on Thursday 04/13, according to our data.