South Korean media: China's shipbuilding and U.S. energy sectors are smiling
On April 27, South Korean media outlet JoongAng Ilbo (Japanese edition) published an article stating that China's shipbuilding and construction equipment industries, as well as the U.S. energy sector, are benefiting from the blockade of the Strait of Hormuz.
Swiss shipping company "Advantage Tankers" recently commissioned China's Dalian Shipbuilding Industry Company (DSIC) to build two ultra-large crude carriers (VLCCs) with a deadweight tonnage of 307,000 tons each. Another Swiss shipping firm and a Singaporean shipping company have also recently placed VLCC orders with Chinese shipyards.
"Advantage Tankers" has long been a client of South Korea’s shipbuilding industry, but this is the first time it has entrusted a large-scale order to China.
Due to the blockade of the Strait of Hormuz, crude oil tankers have had to reroute around the Cape of Good Hope, significantly increasing transportation distances and greatly boosting demand for tankers.
China's shipbuilding industry is attracting newbuilding orders with its advantages of "fast delivery times" and "low costs."
According to data from UK-based Clarkson Research, among the global total of 554 ships ordered (17.58 million CGT) from January to March, China accounted for 12.39 million CGT—about 70% of the 399 vessels; South Korea secured 3.57 million CGT—20% of the 85 vessels ordered.
The United States is also rapidly filling the void left by Middle Eastern energy exports that have been cut off, setting record highs in energy exports.
A report by The Wall Street Journal noted that average daily U.S. crude oil and petroleum product exports reached 12.9 million barrels during the third week of April, marking a historical high.
According to shipping data firm Kepler, U.S. crude oil and liquefied natural gas (LNG) exports to Asia increased by approximately 30% year-on-year from March to April.
Original source: toutiao.com/article/1863579455819785/
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