Genoa - The tanker orderbook has declined sharply since peaking at the start of 2016. Contracting volumes have remained limited, and in contrast some tanker owners have turned to the demolition markets in 2018 so far. In November last year the orderbook hit 66.1m deadweigth tons, dwt, its lowest level since 2013.
Looking across builder countries, Korean yards’ tanker orderbook declined by 43% in dwt terms from the start of 2016 to stand at 26.7 million dwt at the start of March. In the same period, the volume of tanker tonnage on order at Chinese yards fell by 32% to 20.4 million dwt, while the orderbook at Japanese yards remained steadier, down by 12% to 14.9 million dwt.