Ordering of small tankers continues

The tanker orderbook (for tankers above 10,000 dwt) stood at 61 million dwt end December 2002, down 2.9 million dwt from the end December 2001 level. However, in number of tankers the orderbook has increased in the same period. 668 tankers are now on order compared to 602 tankers end December 2001. The orderbook of tankers below 80,000 dwt has increased by 92 since end 2001 and stands at 410 tankers and in number terms accounts for 61% of the total tanker orderbook. Since end 1997 the segment below 80,000 dwt has never been above 55% of the total orderbook. The ordering of tankers 60,000-80,000 dwt has been particularly strong with the orderbook now standing at 76 tankers up from 44 end 2001 and 11 end 2000.

The only segments of the orderbook where a decline has taken place since end 2001 are the Suezmax and U/VLCC segments. The Suezmax orderbook declined from 74 to 63 tankers and the U/VLCC orderbook declined from 82 to 61 tankers. (Data source: J. Grieg & Co. Shipbrokers).

The ordering of tankers has continued into 2003. According to the Clarkson Weekly 3 January 2003, 4 Suezmaxes and 3 small chem/oil tankers totalling 0.76 million dwt for delivery in 2004 have been ordered.

The orderbook details in the period 1994 to 2002 in tables and graphs can be viewed here.