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Bimco: Chinese order rumours shake up tanker market

Unconfirmed rumours of orders of 50 super tankers in China and the price of a Suezmax are the talks of the town in the international tanker market, Bimco states.

At the moment, two subjects are the talks of the town in the global tanker market even though one of the subjects still has to be officially confirmed or rejected. This is especially the case of the persistent rumours that Chinese capital interests have made plans to order up to 50 supertankers, VLCC, to a combined price of USD 4.5 billion corresponding to a value of USD 90 million per ship.

According to Bimco’s “Tanker Market Overview & Outlook” published on Tuesday, such an event would be bad news in a marked already suffering from having too many ships and a possible order will hardly have any definite positive effect for the shipyards which would have to build the ships.

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