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China continues to lead tanker markets

China’s Unipec retained its crown as top VLCC charterer on the spot market. Top 20 ranked Chinese importers, including PetroChina and Sinochem, accounted for more than a fifth of dirty spot cargoes shipped last year, Poten’s annual ranking showed

The global coronavirus backdrop has affected China’s oil trade less than Europe’s, according to brokerage Poten & Partners. Unipec, the trading arm of China’s biggest oil refiner Sinopec Group, has been building up its position, which is being viewed as an indication of the country’s continuing dominance in the tanker market

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