LONDON (Bloomberg) — Demand for oil-tankers may increase 3.5 percent in the next five years because cargoes are being hauled over longer distances, according to the International Energy Agency.China and the US, the world's biggest oil-consumers, will need to import more from "long-haul" locations such as Saudi Arabia and West Africa, the Paris-based agency said today in its Medium-Term Oil Market Report. That will increase so-called ton- mile demand, the distance tankers must travel to deliver cargoes, by 3.5 percent, it said.

China and the US increasingly rely on supply from Saudi Arabia and West African producers such as Nigeria and Angola. The increased trade will balance reduced shipments from the Middle East to Europe, the agency said.

The global fleet of tankers is "well-placed" to meet the expected increase in demand because of a "brimming orderbook" equivalent to nearly 38 percent of the vessels currently in service, according to the agency.