Yard crisis could make new tankers even cheaper

The price for a tanker newbuilding this May reached the lowest level since 2013. The problems at the Asian shipyards could push the price further down, notes Gibson Shipbrokers. However, the broker calls for tanker carriers to be cautious.

Photo: Lee Jin-man/AP/POLFOTO/arkiv

The price for a brand new tanker is already hovering at the lowest level in years, but it could be headed even further down.

In a new market report, Gibson Shipbrokers notes that the crisis at the Asian yards in particular could increase competition for the relatively few orders for newbuildings from tanker carriers.

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