Crude tanker newbuild contracting jumps 490% as VLCC orders gain pace

Published: 06 March 2024

In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y, due to a rise in orders for very large crude carriers – VLCCs. A notable 19 VLCCs were ordered, already surpassing the number of orders for this ship type during all of 2023.

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Crude tanker newbuild contracting jumps 490% as VLCC orders gain pace

Russian seaborne oil exports fall 6%, but remain largely unaffected by new sanctions

Container rates drop 28%, worst first quarter in twenty years

Chinese coal imports expected to fall 15% to three-year-low

Crude tanker newbuild contracting jumps 490% as VLCC orders gain pace

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Russian seaborne oil exports fall 6%, but remain largely unaffected by new sanctions

Container rates drop 28%, worst first quarter in twenty years

Chinese coal imports expected to fall 15% to three-year-low

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