The Boom in Tanker Construction: Record Deliveries Expected in 2025
The optimistic forecasts of the maritime sector point towards a strong rebound in the production of product tankers. It is expected that in 2025, a record number of deliveries will be reached, representing the highest level in the past 16 years and the second-highest in history.
Expectations of Growth
According to a recent report published by the consulting firm BIMCO, in the year 2025, deliveries of newly constructed product tankers are estimated to reach up to 12 million deadweight tonnes (DWT). This figure surpasses by 256% the deliveries recorded in 2024, which stood at 3.4 million DWT.
- In 2025, estimated deliveries of newly constructed product tankers are set to reach up to 12 million deadweight tonnes (DWT).
- This marks a 256% increase from the 3.4 million DWT delivered in 2024.
The boom in the construction of these vessels is a result of an increase in contract signings during the years 2023 and 2024. During these two years, 551 new ships were commissioned, with a total capacity of 38.7 million DWT. This figure is significantly higher than the average annual 122 ships with 7.3 million DWT capacity recorded in the previous decade.
New Job Opportunities
The increase in new contracts has led to a surge in the order book, which went from 10.6 million DWT in early 2023 to 41.2 million DWT in early 2025. This growth represents an excellent job opportunity for those professionals looking to be part of the maritime industry. If you’re interested, we encourage you to send your CV to the mentioned companies.
Domination of MR and LR2 Segments
Regarding ship segments, the Medium Range (MR) segment attracted the most orders in the last two years with 278 contracts. However, it was the Long Range 2 (LR2) segment that topped the list in ordered cargo capacity with 19.2 million DWT. Furthermore, these two segments also dominate the expected deliveries for 2025.
Embracing Alternative Fuels
The BIMCO report also sheds light on the progress towards a greener maritime sector. According to their data, only 7% of the ships scheduled for delivery in 2025 will be able to use alternative fuels. However, another 12% are already preparing for a potential transition to these new energy sources.
Outlook for the Future
The entry into service of these new vessels is a positive sign for the maritime sector. However, BIMCO warns that fleet growth will be between 5% and 6% in 2025 and a decrease in petroleum product demand is expected. This could lead to a reduction in freight levels throughout the year.
In summary, the maritime sector is experiencing a transformative moment with the integration of new technologies and the adoption of cleaner energy sources. This will create new job opportunities and promote a more sustainable development. Join us in this exciting era of the naval industry!
