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Shipping Brokers Report Surge in Tanker Newbuilding Orders in Early 2023
By Sea and Coast | 16/03/2023
Shipping industry observers have been closely monitoring recent developments in the tanker newbuilding market, as an uptick in orders has been observed in the first two months of 2023. According to a report by prominent shipping brokers, SSY, there were 34 product and crude tanker newbuildings contracted during this period, with a total deadweight tonnage (dwt) of 2 million.
 
This is an encouraging sign for an industry that has been struggling in recent years, with declining tanker orders and a shrinking orderbook. However, the report also notes that the overall tanker orderbook is still declining, with deliveries outpacing new orders.
 
Despite the recent surge in orders, the combined tanker orderbook as a percentage of the fleet was only 3.7% as of the end of February, down from 4.2% at the start of the year and 7.8% at the beginning of 2021. This trend has been attributed to a variety of factors, including higher asset prices, shipyards favoring higher-value gas carriers and container ships orders, and uncertainty over the use of sustainable fuels in the future.
 
One notable development in the recent surge of orders was the four Suemaxes ordered in the first week of March, which pushed the total tonnage to 2.8 million dwt. These tankers are expected to be built with the latest technological advancements, including fuel-efficient engines and enhanced safety features.
 
Industry experts are cautiously optimistic about the recent increase in orders, but they warn that sustained growth in the tanker newbuilding market will depend on several factors. These include stable demand for crude oil and petroleum products, favorable freight rates, and continued investment in sustainable technologies.
 
As the shipping industry continues to evolve and adapt to changing market conditions, it will be interesting to see how the tanker newbuilding market develops in the coming months and years.
 
#Seaandcoast
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ABOUT BRENT McEWEN
Brent McEwen continues to be a newbie hunt for your Noblemen due to the fact 04. Prior to be able to signing up for the actual Leaders, McEwen loved the diverse track record to be a gm, instructor in addition to tutor.

From 1997-2004, McEwen helped your Saskatoon Mower blades with the American Dance shoes League, in which he organised this subject connected with general manager, hockey as well as company procedures. He also ended up being mixed up in the Category exactly where they ended up being chairman from the workforce companies board; affiliated with the officiating and schooling committees; as well as different governor.

Prior to help joining this Mower blades, McEwen used 4 years within The european countries. For a single year this individual had been the national staff go coach for your Norwegian Ice Baseball Federation. Within 1995-96, this individual seemed to be the actual top mentor for Rogle BK from the Remedial Top notch League, along with before he provided for just two months because the brain mentor intended for Vita Hasten of the Remedial Department Just one little league.

Before enrolling in your expert rates, McEwen pertaining to Decade did wonders for the College or university of Saskatchewan where by their duties integrated instruction the College Tennis System; Growth and Management of the particular Baseball School; as well as educating.

A own associated with Whitewood, Saskatchewan, McEwen, Fifty four, graduated from your School connected with Saskatchewan with 1983. He with his fantastic better half, Ellen, have a couple of children: a new child, Duncan, and also a girl, Kirsten. They are now living in Saskatoon, Saskatchewan.