🇨🇳 China is building 91% of the WORLD’S NEW SUPERTANKERS while its navy still faces the Strait of Malacca problem. Clarksons data shows Chinese shipyards took most new orders this year, including the bulk of the largest oil tankers. China Merchants and COSCO Energy already oper

🇨🇳 China is building 91% of the WORLD’S NEW SUPERTANKERS while its navy still faces the Strait of Malacca problem. Clarksons data shows Chinese shipyards took most new orders this year, including the bulk of the largest oil tankers. China Merchants and COSCO Energy already operate two of the world’s biggest tanker fleets. One company that only owns these giant tankers, DHT, has already locked in half its open days for the rest of the year at $509,100 a day. Alfred Thayer Mahan argued that sea control and chokepoints determine global power. China can build the ships, but most of its oil still passes through Malacca, a strait it doesn’t control. Building the fleet is one thing. Ensuring its oil reaches China without relying on another navy is the harder part. Source: World Ports, The Merchant News / Lucas