Fewer tankers are joining the global fleet this year. File Image / Pixabay
The number of tankers added to the global fleet has dropped to the lowest level in six years in 2020, according to estimates from shipping intelligence service Alphatanker.
Absolute tanker deliveries are likely to total just 171 ships this year, the lowest level since 2014, Alphatanker said in a monthly newsletter this week.
Some 12.6% of this year's deliveries are expected to be delayed, up from 8.6% last year.
"This difference can be attributed to the significant change in tanker market conditions between then and now," Alphatanker said.
"While 4Q19 was characterized by hire rates for many tankers surging to multi-year highs, this year is characterized by many hire rates, especially for crude tankers, now plumbing multi-year lows.
"Indeed, few owners are hurrying to launch their new tankers against the backdrop of such dire returns."