The combination of reliable storage and vessel-by-vessel cargo tracking to deliver unprecedented granular transparency of China's weekly crude oil demand
New York /PRNewswire/ - ClipperData LLC, the global leader in crude oil and petroleum product cargo tracking, and Ursa Space Systems, the innovator in accurate and comprehensive global oil storage inventories, today announced a partnership to measure, track and report China's crude oil demand on a weekly basis.
"China is the world's largest consumer of crude oil, yet the market is highly opaque," says Abudi Zein, Chief Executive Officer at ClipperData. "We're going to shine a bright light on demand on a weekly basis."
For those who wish to stay abreast of China's weekly demand profile, ClipperData and Ursa are launching their first new product, the China Refinery Demand Report.
This proprietary weekly report relies on tracking crude oil storage inventories tank-by-tank for both China's Strategic Petroleum Reserve (SPR) and commercial storage as well as imports cargo-by-cargo. State-of-the-art technology operates under all conditions, eliminating the problems previously associated with cloud cover or darkness.
By combining reliable oil storage measurements with the industry's best global cargo tracking system, the report delivers an accurate assessment of China's refinery consumption on a weekly basis. These data provide an independent "hard data" assessment far in advance of Chinese government statistics, which frequently overstate demand and lag the market by a full month or more.
"This partnership is unique in that it will immediately deliver value to global oil traders," says Adam Maher, Chief Executive Officer of Ursa Space Systems. "We're on point to deliver exceptional clarity in the world's largest crude oil market."
CLICK HERE to download a no-cost issue of the new China Refinery Demand Report.
ClipperData, headquartered in New York City, holds exclusive partnerships with the U.S. Customs & Border Protection and Inchcape Shipping Services, the world's largest port agent. ClipperData offers the industry's most comprehensive database of waterborne – oceangoing, inland barge, ship-to-ship and floating storage – flows of all crude oil and petroleum products worldwide. ClipperData delivers unrivalled real-time transparency: by ship, grade, API gravity, volume, load/discharge port and dock, along with consignee information. www.clipperdata.com
About Ursa Space Systems
Ursa delivers global economic intelligence to energy and financial enterprises, providing reliable information about areas of the world that are traditionally opaque. The company was formed in early 2015 by leaders in the satellite and software security fields with the vision to unlock the potential of data and insights derived from satellite imaging. Ursa is headquartered in Ithaca, NY. For more information visit www.ursaspace.com.
SOURCE: ClipperData LLCCopyright 2017 PR Newswire. All Rights Reserved