Europe: Tanker Market 2024

Tanker Market Size in Europe

The Europe tanker market soared to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption enjoyed a strong expansion. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Tanker Production in Europe

In value terms, tanker production declined to $X in 2023 estimated in export price. In general, production, however, continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Tanker Exports

Exports in Europe

In 2023, shipments abroad of tankers decreased by X% to X units, falling for the second consecutive year after two years of growth. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of X units. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, tanker exports soared to $X in 2023. In general, exports recorded a mild slump. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Norway was the main exporting country with an export of around X units, which accounted for X% of total exports. Germany (X units) held the second position in the ranking, followed by Denmark (X units), the Netherlands (X units) and Poland (X units). All these countries together held approx. X% share of total exports. Italy (X units) took a minor share of total exports.

Norway was also the fastest-growing in terms of the tankers exports, with a CAGR of X% from 2012 to 2023. At the same time, Denmark (X%), the Netherlands (X%) and Germany (X%) displayed positive paces of growth. Italy experienced a relatively flat trend pattern. By contrast, Poland (X%) illustrated a downward trend over the same period. Norway (X p.p.), Denmark (X p.p.), Germany (X p.p.) and the Netherlands (X p.p.) significantly strengthened its position in terms of the total exports, while Poland saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tanker supplying countries in Europe were Denmark ($X), Germany ($X) and Poland ($X), together accounting for X% of total exports.

Denmark, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Europe amounted to $X,681 per unit, increasing by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, the export prices hit record highs at $X,798 per unit in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Poland ($X,351 per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the other leaders experienced more modest paces of growth.

Tanker Imports

Imports in Europe

In 2023, supplies from abroad of tankers was finally on the rise to reach X units for the first time since 2020, thus ending a two-year declining trend. Overall, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, tanker imports stood at $X in 2023. In general, imports, however, continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Belgium represented the main importing country with an import of around X units, which resulted at X% of total imports. Spain (X units) ranks second in terms of the total imports with a X% share, followed by Greece (X%), the Netherlands (X%) and Norway (X%). The following importers - Poland (X units) and France (X units) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constitutes the largest market for imported tankers in Europe, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with an X% share of total imports. It was followed by Norway, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in France amounted to X%. In the other countries, the average annual rates were as follows: Poland (X% per year) and Norway (X% per year).

Import Prices by Country

In 2023, the import price in Europe amounted to $X,111 per unit, falling by X% against the previous year. Overall, the import price recorded a abrupt setback. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X,942 per unit in 2017; however, from 2018 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($X,240 per unit), while Greece ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform