Expansion of capacity in Asia and Middle East drives demand for oil tankers

Bloomberg reported that the world is experiencing a boom in the construction of oil tankers and oil products, noting that this is due to the redirection of energy flows towards Asian countries.

And Bloomberg quoted intermediary Braemar today Saturday that 38 medium tankers were ordered during the first quarter of 2023, making this three-month period one of the most dynamic periods for shipbuilders since 2013.

In turn, shipping broker Simpson Spence Youn indicated that the number of new ships that were assigned international serial numbers this year was 28, which is an increase compared to 31 serial numbers for the whole of 2022.

According to the analytical agency Kepler, the average total volume of oil and oil products currently on board ships exceeds 200 million barrels, an increase of 177 million barrels from 2021.

Bloomberg experts cite the increase in the share of Asian countries in world oil refining as the reason for the growth of the tanker fleet.

It is noteworthy that the spread of the coronovirus epidemic in 2020-2021 led to a decrease in demand for fuel, and a large number of refineries in the United States and the European Union were closed or reduced the volume of oil refining at them. .

On the other hand, production capacity is expanding in Asia and the Middle East, and as a result, exports from these regions are currently on the rise.

Source: TASS

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