On the provision facet, orders for newbuild tankers grew during the last two years, with the present orderbook for MRs and LR1s reaching 15.1 per cent of vessels on water (measured in DWT), as on the finish of February 2025.
“Whereas vessel deliveries will speed up from the second half of this yr, they’re unfold over a number of years,” stated Mottola. “Moreover, contemplating the sturdy linkages between the totally different tankers sectors, the orderbook throughout all tankers (together with product and crude carriers), which stands at a decrease 13.4 per cent of vessels on water, as on the finish of February 2025, may present a extra dependable indicator of the market’s provide fundamentals.”
