TANKERS

Year on year tankers fleet development (May 2021 - May 2022)

Published 12. May 2022 9:56 AM

Even though tankers have seen the highest number of recycling sales this year, the fleet still grew in every size/segment during the first quarter of 2022.

The tanker fleet grew by 187 vessels across segments from last year May to May 1 2022, meaning that 187 more vessels were delivered compared to recycled/demolished. 

We are fundamentally bullish on recycling, as our opinion is that the tanker market, generally, is oversupplied with tonnage, both in product and crude. The current market usually only flourishes under high volatility but fails when the market is stable, and allows charterers to take advantage. As recycling rates continue to fall, we may see more owners cashing in before rates fall even further. 

Fleet development in segments from May 2021 – May 2022

MR1/2:
Trading fleet: 2482
Change since 1. May 2021: +82 (+3.41%)

LR1/LR2:
Trading fleet: 796
Change since 1. May 2021: +33 (+4.32%)

Aframax:
Trading fleet: 634
Change since 1. May 2021: +18 (+2.92%)

Suezmax:
Trading fleet: 560
Change since 1. May 2021: +20 (+3.70%)

VLCC:
Trading fleet: 855
Change since 1. May 2021: +34 (+4.14%)

Tanker fleet size (actively trading): 5,327
Tankers on order: 158
Tankers under construction: 112
Tankers delivered in 2022: 71
Tankers sold for recycling in 2022: 40

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