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265 new ships represent the real challenge facing the tanker industry

Too many vessels are eating into the recovery enjoyed by crude oil and product tanker carriers one year ago. Two new analyses outline the challenges, the greatest being the 265 new vessels delivered in 2016, and these problems could hit the industry in 2017 and 2018.

Although the delivery of new tankers in 2016 was actually much lower than many market observers had expected, these ships still represent the single greatest challenge for the segment.

265 new vessels, both crude oil and product tankers, were delivered in 2016, according to an analysis from McQuilling, which had projected an increase last year of 343 vessels. The many new ships pose a challenge for the industry. And this will be a problem until 2018.

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