2023 set for lowest tanker deliveries this century
Hard pressed tanker owners, going through one of the worst earnings periods this century, can take some solace when looking at what is set to deliver.
According to data from tanker broker Gibson, 2023 newbuilding deliveries are running at a 25-year low with 2024 deliveries also looking to be relatively low.
Given the massive amount of containership and LNG orders last year, most bluechip yards are now fully booked for 2023 meaning the tanker fleet will register minimal growth over the next couple of years.
According to statistics from Clarkson Research Services, shipyard orders last year were skewed towards container ($42bn) and gas ($21.6bn). The orderbook of the entire merchant fleet edged up to a “manageable” 9.4% by dwt of the fleet, Clarksons noted in a recent market report with tankers on 7.3% and bulkers on 7% while for containers and LNG the ratio is much higher at 23%.
Analysts at BRS have urged tanker owners to get scrapping.
“If scrapping is front loaded in 2022, it will help to sure up fleet fundamentals. Meanwhile, on the demand side, it appears that it will take until at least 2H22 before demand will approach its pre-pandemic level which suggests that the first half of the year is unlikely to change the fortunes of currently-beleaguered tanker owners,” BRS stated in its most recent weekly tanker report.