Orders for tankers at highest level in eight years

The number of orders for tankers was the highest in the first quarter of this year since before the financial crisis in the first part of 2007. The high number is especially due to several bulk shipowners converting their dry bulk vessels to tankers, according to a report from shipbroker Gibson.

Optimism in the tanker market shows itself in the number of orders for new tankers, which in the first quarter of this year reached a total of 84 vessels. This is the highest number of orders in one quarter since 2007, as calculated by the shipbroker Gibson, according to Hellenic Shipping News.

The high number of orders is also rooted in the crisis in the dry bulk market, where shipowners such as Scorpio Bulkers are choosing to convert dry bulk vessels to tankers.

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