A tidbid, as to their Ignorance
Terminals in China are now heavily congested as tankers wait to unload. As DHT co-CEO Svein Moxnes Harfjeld said on his company’s call, “Inventories are quite full in China. It takes time for refiners to consume these inventories — and that’s holding up ships.”
The hope among tanker owners is that once vessels off the coast unload, China’s thirst for both Atlantic Basin and Middle East cargoes will pick up where it left off.
Source: FreightWaves, By Greg Miller, https://www.freightwaves.com/news/supertanker-double-whammy-less-volume-shorter-hauls