Singapore orders 113 Tankers – Box Carriers put their ships at anchor

Paradox of the Fuel that laughs Boxes that cry!

Singaporean shipowners continue to expand their tanker fleets: crude carriers, refined product carriers and chemical tankers. They currently have 113 vessels on order, representing 10.2% of the world total of tankers on order, according to data from BRL Shipping Consultants. (source Le marin)

Unfortunately, these boats will be built in Asia, where low-cost steel production and the pollution that goes with it are concentrated.

Suspension or cancellation of lines, decommissioning of ships, transfer to the transpacific: shipowners are trying to adapt to the very poor health of container trade between Asia and Europe. In February, the fall was 11.9% (source: Le Marin).

Against this backdrop of strong overcapacity, with the arrival of very large vessels, freight rates are at their lowest. As a result, shipowners have decided either to cancel calls, or to transfer large vessels to the transpacific (CMA CGM), or to cancel or suspend lines, or to shut down large vessels like the MSC Maya, which remains at anchor in Asia, waiting for better days.

So the oil companies are betting on a recovery in consumption, and the hauliers are waiting at anchor to see what happens.

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