29 more tankers were delivered in March, 19 of which were product tankers. Of these 19, nine were LR2s and seven were MRs, as these two sizebands continue to dominate. On the crude side, five VLCCs were delivered, joined by three Suezmaxes and an Aframax. In the first quarter of 2026, 95 tankers were delivered, compared with just 42 during the same period last year.
Demolition figures also surpassed those of the first quarter of 2025. As in February, five tankers were demolished in March - four MRs and one Handysize. 13 tankers have been demolished so far this year.
Finally, on the newbuilding side, March seems to have followed February in experiencing a decline in contracts. 41 tankers were ordered last month, the lowest since last August and far below January’s 94. Crude tanker orders dwarfed those of product tankers, making up 35 of the 41. 18 Suezmaxes and 17 VLCCs were ordered, followed distantly by four LR2s and two MRs.