Global oil tanker data shows China shift

|By:, SA News Editor

Steady Chinese energy demand has been a saving grace for the oil tanker market, with much of the credit going to China's Unipec - a unit of Sinopec (SNP) - who didn’t rank among the top 20 charterers of oil tankers a decade ago but has beaten Shell (RDS.A, RDS.B) as the No. 1 charterer for the second year in a row.

China’s move up the rankings - PetroChina (PTR) also is raising its presence among tanker charterers, joining the top 10 - reflects its growing control over elements of its oil supply chain as the center of global oil demand growth shifts toward developing Asia.