The conditions for higher tanker freight rates are set to continue for several years before the next wave of newbuildings joins the global fleet, according to shipbroker Braemar.
Shipyards are gearing up for a resurgence of tanker ordering with plenty of slots available in 2026 and little competition from other shipping types, it said.
A 30-year low order book has seen tanker supply holding steady despite older ships remaining in service for longer to tap into premium rates for hauling Russian oil.
