Newbuild contracting activity during the past five years has been low at about 5.46 million DWT per year. In addition, the product tanker order book hit a low of 9.67 million DWT in December 2022, the smallest order book since June 2001. Due to the low contracting of ships, the fleet has only grown at … Continue reading Year-to-date product tanker newbuild contracting hits 10-year high