Lowest level of coated tanker deliveries since 2002

Deliveries of tankers are set to be at the lowest level since 2015 this year, with coated tanker deliveries on course for their lowest tally since 2002, according to new data from brokers Braemar ACM. 

“While a smaller orderbook explains much of the reduction in tanker additions, delays to scheduled deliveries played a part too thanks to Covid-19,” the tanker report states. 

2020 tanker deliveries are likely to be 5.8% lower than Braemar ACM originally expected when it ran its orderbook audit at start of the year.

With tanker rates having peaked, Braemar ACM is predicting more ships will head into drydock for scrubber retrofits in the coming months. There was 84% more tanker tonnage in yard for scrubber retrofits in June, versus May, according to Braemar ACM data.

“The lower freight rate environment that we are expecting is likely to reduce the opportunity cost of sitting out of the market in drydock,” Braemar ACM suggested.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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