Economy

Largest shipowners association

Oil may not have been on China’s official tariff list, but the country appears to have not imported any U.S. crude in August, according to Bimco’s chief shipping analyst, Peter Sand, who cited U.S. Census data.

Bimco is the world’s largest shipowners association with members in more than 120 countries that control around 65 percent of international tonnage.

According to Sand’s research, Chinese imports accounted for 23 percent of total U.S. crude exports in 2017 and were averaging 22 percent for this year, up until August.

“In the first seven months of 2018 China imported an averaged 10.6 million barrels,” Sand said.

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