US oil exports to China have stopped due to the ongoing trade war between the United States and China, according to an energy shipping executive. Bloomberg photo by Eddie Seal.
US oil exports stopped in September
US oil exports to China have “totally stopped” according to the President of China Merchants Energy Shipping Co, as the trade war between the Trump administration and Beijing escalates.
In recent months, Washington and Beijing have put tariffs on a number of goods, each usually in retaliation for tariffs from the other country. And in September, Chinese oil importers stopped placing new orders for US crude.
The shift in buying practices is taking a toll on what was a promising, fast growing business.
“We are one of the major carriers for crude oil from the US to China. Before (the trade war) we had a nice business, but now it’s totally stopped,” Xie Chunlin, the president of CMES told Reuters on the sidelines of the Global Maritime Forum’s Annual Summit in Hong Kong.
Refinitiv Eikon ship tracking data confirms that US oil exports to China stopped last month.
“It’s unfortunately happened, the trade war between the U.S. and China. Surely for the shipping business, it’s not good,” Xie said.