Tanker orderbook relative to active fleet rises to highest level in five years
The tanker orderbook in relation to the active fleet has climbed to its highest level in five years, driven by a spectacular increase in newbuilding investment since the second half of 2022.
According to data from Xclusiv Shipbrokers, a total of 751 tankers with a capacity of 66.3 million DWT were under construction at the end of April, while the existing fleet consists of 7,594 vessels with a capacity of 691.5 million DWT.
The orderbook corresponds to 9.9% of the fleet in terms of vessels and 9.6% in terms of tonnage (DWT). The last time the orderbook exceeded 9.6% in DWT terms was in May 2019 (9.64%).
The most popular ship type in recent shipbuilding deals is LR2 tankers that carry oil products. Xclusiv Shipbrokers data shows that the orderbook/fleet ratio for product tankers (of 10,000 DWT and above) today stands at 15.1% on a DWT basis, the highest level since April 2016 (15.5%).
Regarding crude tankers, the tonnage under construction corresponds to 7.4% of the existing fleet in terms of DWT. This is the highest performance since January 2022 (about 8%).
Greek shipowners are once again the leaders in the tanker market. More specifically, of the 751 tankers currently being built at the yards, 222, i.e. 30%, belong to shipping companies of Greek interests.
