The buoyant market for newbuilding and secondand tankers has further to rise as owners seek to exploit the prospect of high freight rates in 2023, Italy’s d’Amico International Shipping (DIS) said.

A string of new shipowners entered the sector in 2022 to tap into the lucrative market hauling Russian oil on longer-haul voyages, boosting prices second-hand prices with the newbuilding orderbook at a historic low.