China considers massive tanker fleet expansion
China is reportedly weighing a buildup in its tanker fleet.
Press reports quote Li Lianzhong, an official with the central policy research institution, as saying, “to safeguard the security of national oil supplies, at least 50 percent of crude imports must be transported by our own supertankers.”
Various sources say China moves 10 percent to 15 percent of its oil with its own ships and is considering a buildup in the Chinese supertanker fleet to 75 million tons by 2010, and 130 million tons by 2020.