{"id":38658,"date":"2018-10-04T07:21:04","date_gmt":"2018-10-04T12:21:04","guid":{"rendered":"http:\/\/olduvai.ca\/?p=38658"},"modified":"2018-10-04T07:21:04","modified_gmt":"2018-10-04T12:21:04","slug":"chinese-imports-of-us-crude-have-totally-stopped-as-tariff-threats-persist","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=38658","title":{"rendered":"Chinese Imports Of US Crude Have &#8220;Totally Stopped&#8221; As Tariff Threats Persist"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-10-03\/chinese-imports-us-crude-have-totally-stopped-tariff-threats-persist\"><span class=\"field field--name-title field--type-string field--label-hidden\">Chinese Imports Of US Crude Have &#8220;Totally Stopped&#8221; As Tariff Threats Persist<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\" data-gtm-vis-recent-on-screen-2077925_22=\"1081\" data-gtm-vis-first-on-screen-2077925_22=\"1081\" data-gtm-vis-total-visible-time-2077925_22=\"100\" data-gtm-vis-has-fired-2077925_22=\"1\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\"><\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p><strong>It has been roughly two months since China threatened to impose a 25% tariff on US energy imports (it eventually went back on those threats),<\/strong> and less than two weeks since the latest round of tariffs has been implemented. <strong>But even as China has shied away from its threats to punish the US energy industry, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-china-trade-oil\/u-s-crude-oil-shipments-to-china-totally-stopped-amid-trade-war-shipping-executive-idUSKCN1MD0O1\">Reuters<\/a> data are showing that imports of US oil to China have ground to a halt. <\/strong><\/p>\n<p><strong><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018.10.03chinaoil.JPG?itok=4FqOTKcQ\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/2018.10.03chinaoil.JPG?itok=4FqOTKcQ\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018.10.03chinaoil.JPG\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/2018.10.03chinaoil.JPG?itok=4FqOTKcQ 1x\" alt=\"China\" width=\"500\" height=\"249\" data-entity-type=\"file\" data-entity-uuid=\"98c8e36b-8760-4d2a-b075-5491f6707fe9\" data-responsive-image-style=\"inline_images\" \/><\/a><\/strong><\/p>\n<p>Confirming the data, Xie Chunlin, the president of China Merchants Energy Shipping Co, said on Wednesday that crude oil shipments to China have &#8220;totally stopped&#8221; as the trade war has taken its toll, reversing growth in what had been a rapidly expanding market for US shale producers.<\/p>\n<blockquote><p><strong>&#8220;We are one of the major carriers for crude oil from the U.S. to China. Before (the trade war) we had a nice business, but now it\u2019s totally stopped,&#8221; <\/strong>Chunlin said on the sidelines of the Global Maritime Forum\u2019s Annual Summit in Hong Kong.<\/p>\n<p>&#8220;It\u2019s unfortunately happened, the trade war between the U.S. and China. Surely for the shipping business, it\u2019s not good,&#8221; the CMES president said.<\/p>\n<p>He also said the trade dispute was forcing China to seek soybeans from suppliers other than the United States, adding that China now bought most its soybeans from South America.<\/p><\/blockquote>\n<p>In place of US imports, China, which is the world&#8217;s largest importer of crude oil, is becoming increasingly reliant on the Middle East and Russia while <a href=\"https:\/\/www.zerohedge.com\/news\/2018-08-20\/chinese-oil-imports-iran-surge-beijing-shifts-iran-tankers-bypass-sanctions\">it has also shifted to using Iranian tankers<\/a> to bypass impending US sanctions on Iranian crude while also becoming more reliant on Iranian crude in general. But while it&#8217;s grabbing the most headlines right now, the trade fight is hardly the only source of contention between US oil producers and China, as <a href=\"https:\/\/www.zerohedge.com\/news\/2018-07-30\/chinas-oil-futures-contract-beginning-show-its-teeth\">China&#8217;s yuan-denominated crude futures contracts<\/a> are beginning to show their teeth.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Chinese Imports Of US Crude Have &#8220;Totally Stopped&#8221; As Tariff Threats Persist It has been roughly two months since China threatened to impose a 25% tariff on US energy imports (it eventually went back on those threats), and less than two weeks since the latest round of tariffs has been implemented. But even as China [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,5],"tags":[130,184,522,1650,694,9937,805,3222,827,4318],"class_list":["post-38658","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-geopolitics","tag-china","tag-crude-oil","tag-middle-east","tag-oil-imports","tag-russia","tag-tariffs","tag-trade","tag-trade-war","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38658"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38658\/revisions"}],"predecessor-version":[{"id":38659,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38658\/revisions\/38659"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}