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Oil tankers queuing off Chinese coast proof of rapid rebound

A growing number of tanker ships are queuing off the coast of China's busiest ports, waiting to offload crude oil to the country's refineries. China's demand for oil in May was almost back to levels seen prior to the coronavirus outbreak.

Photo: PR/Maersk

Queues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production amid a rapid rebound in fuel demand.

Two dozen or more crude-laden tankers are waiting to discharge at terminals on China’s east coast that supply state-owned and independent refiners in the region, according shipbrokers and vessel-tracking data. Asia’s largest economy is leading a recovery in oil consumption, with demand in May almost back to levels seen before the coronavirus triggered stay-at-home orders.

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