The "Eastern shift" of oil markets caused a boom in tanker construction — Bloomberg
The demand for oil tankers has sharply increased in the world, which is connected not only with the recovery of markets after the pandemic, but also with the global trend towards shifting the activity of oil markets from West to East.
Bloomberg writes about this, referring to the results of the transactions of the shipbroker Braemar. According to these data, since the beginning of this year, orders of medium-class tankers have increased to 38 units, which has become a record since at least 2013.
Alexandra Alatari, Senior Analyst at Braemar commented on the situation in the tanker market. "The main structural shift in the landscape of oil refineries, which will support the demand for the transportation of petroleum products in the medium and long term, is the geographical shift between new refineries and the main consumers," the expert said.
Another industry company Simpson Spence & Young is also recording the growing demand for oil tankers. This is evidenced by the statistics of international serial numbers assigned to ships.
Therefore, if 31 tankers received them for the whole of 2022, then in the first quarter of 2023 alone, their number has already reached 28 units.
Currently, more than 200 million barrels of oil are transported by sea in total, compared to 177 million two years ago.
It is natural that with the increase in the number of orders for the construction of new tankers, the incomes of shipbuilding companies that have increased prices for their services are also growing. According to Bloomberg, now the price has risen to $ 45 million per vessel, which is 14% higher than a year earlier. This indicator has been high since 2008.
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