Tanker

Mikael Skov believes product tanker boom will continue despite more ship orders

Carriers have ordered more tankers, but the fleet growth is spread out over four years and will not slow the market down, says the Hafnia chief exec.
"The disruptions in the Red Sea are causing ships to sail longer voyages, increasing demand for tankers and ton-miles. While it is uncertain how long these disruptions will last, product tanker fundamentals look strong in 2024," says Mikael Skov, CEO of Hafnia. | Photo: Pr / Hafnia
"The disruptions in the Red Sea are causing ships to sail longer voyages, increasing demand for tankers and ton-miles. While it is uncertain how long these disruptions will last, product tanker fundamentals look strong in 2024," says Mikael Skov, CEO of Hafnia. | Photo: Pr / Hafnia
by DAG HOLMSTAD

The earnings boom of the last two years in product tanker has sent carriers rushing to the yards to order many more new tankers, and this will cause the global fleet capacity to grow by 6.2% by the end of 2025, projects Bimco.

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