Tanker and bulker newbuilding vessel orders had risen amid an overall drop in newbuilding orders in first-half 2017 across shipping segments compared to the same period last year, according to data from VesselsValue.
Overall orders in H1 2017 was 245, a slight decrease from 254 seen in the same period in 2016, and less than half of the 594 orders seen for H1 2015.
"This is especially obvious when comparing to the 50 offshore vessels ordered in H1 2015 versus the absence of any offshore orders placed during H1 2017," noted VesselsValue in a statement.
While the bulker order has almost doubled from 43 in H1 2016 to 70 in H1 2017, it is significantly less than the 229 bulker orders seen in H1 2015.
Tanker orders in H1 2017 numbered 145, an increase from 118 seen in H1 2016, yet not as high as the 181 tanker newbuilding orders seen for H1 2015.
The tanker markets have had a marked increase in fleet this year with few demolitions seen, said market sources.
Among the larger tankers, only one Very Large Crude Carrier and four Suezmax tankers were scrapped this year, said industry sources.
"The VLCC owners should scrap their ships, now the global fleet is around 700 vessels or so and over supplied, it needs to stay in the 600s to be healthy," said a chartering executive at an oil trading company.
Market sources said the VLCC fleet had surpassed 700 in Q1 2017.
Source: PlattsPrevious Next