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Tuesday, October 23, 2018

Tanker fleet development 7 months 2004

Tanker fleet development 7 months 2004

As of the end of July 2004 the tanker and combined carrier fleet (above 10,000 dwt) stands at 326.4 million dwt or 3,775 ships. (Source of figures: Clarkson Research) In deadweight terms the fleet has seen a net addition of 9.6m dwt (3%), and in number of ships the fleet has grown by 109 ships. The graph below outlines the fleet development in dwt (red line – left axis) and number of ships (blue line – right axis) since 1992. The fleet growth has been quite high since 2001, but declined slightly in the less attractive markets of 1994-1999.

The number of combined carriers have now fallen the about 114 ships. However, as seen in the graph above, the number of ships has sustained fairly even growth almost all the time, whereas the carrying capacity was reduced somewhat in the mid 1990s. This has to do with that the reduced capacity of the VLCC market at that time whereas the smaller size segment (10,000-60,000 dwt) has grown since 1992 and now accounts for 64.3 million dwt or 2,071 tankers (see graph below). This fleet segment has grown by 3.5% in dwt terms during the first 7 months of 2004 alone.


The carriage of petroleum products has shown a nice growth since 1991 (despite a hiccup in the late 1990s) both in tonnes and in tonne-miles. The graph below (source of figures: Fearnleys) demonstrates the growth in petroleum product seaborne trade as an index (1973=100). The trade in tonne-miles, tonnes and the average distance is shown.

The orderbook for tankers 10,000-60,000 dwt has also grown and currently stand at 18.8 million dwt or 531 tankers, which in deadweight terms is close to 30% of the fleet segment size. As seen in the graph below the orderbook has experienced a steep increase since the end of 1999.

Click here for the tanker fleet development in tables and graphs and

Click here the orderbook development.  Both are available on the INTERTANKO website.