Fleets of Supertankers Converge on China After Surge in Oil Buying

(Bloomberg) — China’s recovery may be disappointing some oil bulls, but there’s one incontrovertible fact: The world’s biggest importer is drawing in a lot of crude by sea.

At the end of last month, 125 supertankers with the capacity to deliver 250 million barrels were en route to the Asian country, according to vessel tracking data compiled by Bloomberg. That’s the most in more than two years, and cargo loading data for April add to evidence that China is set to receive more.