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Crude Oil Tanker Industry and China's Economic Indicators for May

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Crude Oil Tanker Industry and China's Economic Indicators for May PART 1 OF 4

Crude Oil Tanker Industry and China’s Economic Indicators for May

China releases May data

China has released key economic data for May 2017, which include export and import data, auto sales data, and the manufacturing index. The information is crucial for assessing the outlook for the crude oil tanker industry.

[{"interval":2629800,"data":[2.1432,2.3419,2.183,2.2332,2.2083,2.4621,3.2066,2.9679,3.8719,3.2493,2.9846,3.1738,3.6727,3.5005,3.6651,3.2492,3.61,3.8897,4.3792,4.8035,5.3128,5.023,5.6912,6.0353,6.0441,6.4256,5.3886,5.8849,6.7889,6.4152,6.2105,4.1107,3.727,3.3525,3.5991,3.2783,2.8932,2.7335,2.5522,2.3987,2.2452,2.1987,2.2473,2.2473,2.3251,2.0596,2.0201,1.9,1.87],"units":"$","start":1371268800,"end":1497499200,"name":"Teekay Tankers Ltd (TNK)","metric":"Closing Price","source":"BATS Exchange","observation_start":null,"chart_type":"line"},{"interval":2629800,"data":[3.3758,3.5761,3.1362,3.4305,3.7867,4.2205,5.0521,6.5367,5.9141,6.0309,6.1167,5.7818,5.4849,5.3208,5.5709,4.7889,5.1181,4.9539,5.7323,6.1334,5.5736,5.4706,6.3336,6.4458,6.4054,6.6397,5.9654,5.9983,6.3773,6.5646,6.9025,4.7566,5.0641,5.1345,5.1874,4.9662,4.6444,4.2949,4.3027,3.8897,3.957,3.6695,4.0268,4.4517,4.5845,4.3882,4.8201,4.2,4.04],"units":"$","start":1371268800,"end":1497499200,"name":"DHT Holdings Inc (DHT)","metric":"Closing Price","source":"BATS Exchange","observation_start":null,"chart_type":"line"},{"interval":2629800,"data":[4.9044,6.6879,5.4283,5.8667,5.7971,5.5041,6.7754,7.791,7.4535,7.2235,6.1382,6.2099,7.059,6.6456,6.8353,6.1374,6.5331,6.8188,7.7378,8.1163,7.9668,9.2578,9.801,10.551,11.5663,12.4873,11.7542,12.329,12.8526,12.7758,13.3476,11.2031,12.2072,12.4098,13.2993,13.6852,12.6443,11.0332,9.7669,9.1848,8.0265,8.188,8.036,8.283,7.858,7.9261,8.1303,5.65,6.03],"units":"$","start":1371268800,"end":1497499200,"name":"Nordic American Tankers Ltd (NAT)","metric":"Closing Price","source":"BATS Exchange","observation_start":null,"chart_type":"line"},{"interval":2629800,"data":[4.0074,4.3717,4.0161,4.7074,4.4532,4.3305,5.3293,6.6217,5.9666,6.7191,6.3562,6.5013,5.9662,6.3764,6.8667,5.8241,5.941,6.4291,6.3024,6.5106,6.9051,7.4714,8.4944,8.8793,8.5208,8.8149,7.0409,7.2366,8.0891,7.2551,7.0156,5.4929,5.4462,5.8403,6.1526,5.8592,4.6476,4.8559,4.8368,4.606,4.4618,4.2791,4.6308,4.6407,4.5715,4.7694,4.63,4.4,4.35],"units":"$","start":1371268800,"end":1497499200,"name":"Tsakos Energy Navigation Ltd (TNP)","metric":"Closing Price","source":"BATS Exchange","observation_start":null,"chart_type":"line"},{"interval":2629800,"data":[10.0699,8.9714,10.8682,10.6743,10.3922,12.2034,13.4623,12.0704,11.462,10.7784,8.6274,10.4812,9.2907,9.1535,8.6697,7.5365,8.3086,10.3815,10.2737,10.1957,11.0107,10.4539,9.4483,10.7266,9.6469,9.8795,11.2191,10.6169,11.2335,11.4358,10.36,10.49],"units":"$","start":1371268800,"end":1497499200,"name":"Navios Maritime Midstream Partners LP (NAP)","metric":"Closing Price","source":"BATS Exchange","observation_start":null,"chart_type":"line"}]

In April, China’s crude oil imports were lower than March’s all-time high. Its manufacturing index also fell to a six-month low. Auto sales in April fell 2.2% year-over-year. All these indicators didn’t bode well with the crude oil tanker industry.

Stock performances

  • Teekay Tankers (TNK): fell 3.7%
  • Nordic American Tankers (NAT): 0.0%
  • Tsakos Energy Navigation (TNP): rose 0.94%
  • DHT Holdings (DHT): fell 5.5%
  • Euronav (EURN): fell 4.6%
  • Navios Maritime Midstream Partners (NAP): fell 0.49%
  • Gener8 Maritime (GNRT): fell 4.3%

Series overview

As we know, China (FXI) is one of the most important countries for crude oil tankers. In this series, we’ll look at important Chinese economic data that impact the crude oil tanker industry. China, the worlds’ second-largest oil importer, imports most of its oil through crude oil tankers.

In the next part, we’ll assess China’s import-export data, especially its crude oil imports. China is the world’s largest manufacturer. A country’s oil demand is closely related to its manufacturing activities. We’ll be looking at China’s manufacturing indicators for May. Since a country’s oil demand is also closely related to its auto industry, we’ll also take a look at its auto sales in May.

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