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Tanker Fleet Expansion in 2025: Growth or Imbalance?
The product tanker market is set for a significant shake-up in 2025, with newbuild deliveries projected to surge to 12 million deadweight tonnes (DWT). This marks a staggering 256% increase from the 3.4 million DWT delivered in 2024, reaching a 16-year high and the second-highest level on record. While this influx of new tonnage suggests […]
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Tanker Market in Turmoil: Shrinking Newbuilds, Aging Ships, and an Uncertain Future
The crude oil tanker industry is undergoing a structural shift, marked by a dramatic contraction in newbuild deliveries and an increasingly aging fleet. With only 17 crude tankers (2.5 million DWT) delivered in 2024—the lowest in 36 years—the fleet has grown by a mere 0.2%, making it the slowest expansion in over two decades. Meanwhile, […]
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The Shipping Almanac 