Newbuilding activity moderated this week due to holidays in China and Korea, but markets are resuming normal operations. Product tankers, especially MRs, are leading demand in Korea and China, with prices for VLCCs and Suezmaxes still holding strong despite a slowdown in crude demand.
The tanker sector benefits from limited orderbook pressure due to subdued dry bulk interest. Strong domestic demand from Chinese buyers, particularly SOEs like COSCO, is reshaping the newbuilding landscape as strategic considerations outweigh price fluctuations, signalling a potential reduction in market volatility moving forward.