Poten predicts VCCLs to profit from recent Saudi refinery investments in China.

Amin H. Nasser

Poten revealed that over three-quarters of the crude oil imported by China arrives via Very Large Crude Carriers (VLCCs), with almost all of the supply from Saudi Arabia carried on these huge vessels. This information was shared through a photo taken by Bob Rust.

The agreement solidifies the standing of the Middle Eastern manufacturer as a prominent provider of crude oil to China for many years in the future.

On April 3, 2023, at 12:50 am, Greenwich Mean Time, the blog was revised. An updated version of the post was made at 12:58 am, Greenwich Mean Time.

According to the American shipbroker Poten & Partners, Very Large Crude Carriers (VLCCs) are likely to reap significant benefits from Saudi Arabia's recent investments in Chinese refineries.

The broker reported that over three-fourths of the crude oil imports to China are carried out on Very Large Crude Carriers (VLCCs). Additionally, almost all of the crude oil flows from Saudi Arabia are transported on these immense vessels.

China's government recently gave Saudi Arabia the go-ahead to build a new refinery with a production capacity of 300,000 barrels per day in Panjin, which is located in the Northeast province of Liaoning.

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