China: Tanker Market 2025

Tanker Market Size in China

In 2021, the Chinese tanker market decreased by -57.2% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption continues to indicate a abrupt setback. Tanker consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Tanker Production in China

In value terms, tanker production shrank to $X in 2021 estimated in export price. In general, production saw a mild decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 14% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Tanker Exports

Exports from China

In 2021, after three years of decline, there was significant growth in shipments abroad of tankers, when their volume increased by 93% to X units. Overall, exports recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tanker exports soared to $X in 2021. Over the period under review, exports posted moderate growth. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X units), Liberia (X units) and Malta (X units) were the main destinations of tanker exports from China, with a combined 52% share of total exports. These countries were followed by South Korea, Marshall Islands, Germany, Greece, Norway, Algeria, Malaysia, Sweden, Belgium and the UK, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +87.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Liberia ($X) and Malta ($X) appeared to be the largest markets for tanker exported from China worldwide, together comprising 58% of total exports. These countries were followed by Marshall Islands, South Korea, Norway, Belgium, Greece, Sweden, Malaysia, Germany, the UK and Algeria, which together accounted for a further 29%.

In terms of the main countries of destination, Germany, with a CAGR of +66.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average tanker export price amounted to $X per unit, with a decrease of -16.8% against the previous year. Over the period under review, the export price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2020 an increase of 21% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Algeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+6.6%), while the prices for the other major destinations experienced a decline.

Tanker Imports

Imports into China

In 2021, supplies from abroad of tankers decreased by -50% to X units, falling for the second year in a row after six years of growth. In general, imports faced a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 100%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, tanker imports fell remarkably to $X in 2021. Overall, imports recorded a abrupt curtailment. The growth pace was the most rapid in 2018 when imports increased by 158%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X units) was the main tanker supplier to China, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Belgium was relatively modest.

In value terms, Belgium ($X) constituted the largest supplier of tankers to China, comprising 40% of total imports. The second position in the ranking was held by South Korea ($X), with a 7.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium was relatively modest.

Import Prices by Country

The average tanker import price stood at $X per unit in 2021, which is down by -18.4% against the previous year. Over the period under review, the import price recorded a slight decrease. The growth pace was the most rapid in 2019 when the average import price increased by 74% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Belgium amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+91.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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