Tanker contracting only 1.6m DWT in first half of 2022: lowest half year on record
Between 1996 and 2021, the lowest half-yearly tanker contracting volume was 3.0m DWT, recorded in the first half of 1999. Despite improved freight rates and a more positive market outlook, the first six months of 2022 ended with barely more than half that volume: only 1.6m DWT was contracted. Consequently, the order book to fleet ratio has fallen to 5.1% for both crude and product tankers, a ratio which is also the lowest since 1996.
MEMBER SECTION
If you are a member, please login using the orange button at the top of the page to view the full article, or register.
If you are unsure of your membership, or wish to become a member, please contact membership@bimco.org.
Feedback or a question about this information?
Posted:
21 July 2022
BIMCO's Shipping number of the week
Latest market analysis
ELSEWHERE ON BIMCO
Contracts & Clauses
All of BIMCO's most widely used contracts and clauses as well as advice on managing charters and business partners.
Learn about your cargo
For general guidance and information on cargo-related queries.
BIMCO Publications
Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.
