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Chinese crude oil demand needs 45 additional VLCC’s to support growth

31 October 2017

In 2019, global oil demand is forecast to pass the symbolic 100 million barrels per day threshold (International Energy Agency). Developing countries account for almost all of the growth and Asia dominate.  BIMCO stated in its forecast for 2017, that the tanker demand growth for 2017 is expected  to come predominantly from the greater Asia region, led by China. China has met expectations by ramping up its import of seaborne crude oil by 13% for the first nine months of 2017 compared to the same period last year. As China is importing crude oil from further afield in 2017 than in 2016, the tonne miles generated has surged 18%. 

Caution required when using nautical charts of Arctic waters

26 July 2017

Due to the significant limitations of Arctic charting, all mariners in Arctic waters are required to plan any prospective voyages well in advance to understand their environment, and to exercise extreme caution when on the water, in order to minimise the associated high levels of risk. Caution is equally essential when navigating with Electronic Navigational Charts (ENC), as these official digital charts are based on the same limited or insufficient data as the official paper or electronic equivalent charts.