EU: Tanker Market 2025

Tanker Market Size in the EU

In 2021, the EU tanker market increased by 64% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +95.6% against 2019 indices. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in years to come.

Tanker Production in the EU

In value terms, tanker production contracted sharply to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 104%. The level of production peaked at $X in 2020, and then contracted significantly in the following year.

Tanker Exports

Exports in the EU

In 2021, overseas shipments of tankers were finally on the rise to reach X units after two years of decline. Overall, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 127%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, tanker exports skyrocketed to $X in 2021. In general, exports, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2018 with an increase of 81% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland was the main exporter of tankers in the European Union, with the volume of exports resulting at X units, which was approx. 58% of total exports in 2021. Cyprus (X units) held the second position in the ranking, followed by the Netherlands (X units) and Denmark (X units). All these countries together held approx. 31% share of total exports. Belgium (X units), Croatia (X units) and Italy (X units) took a minor share of total exports.

Exports from Poland decreased at an average annual rate of -10.6% from 2012 to 2021. At the same time, the Netherlands (+5.8%) and Denmark (+3.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +5.8% from 2012-2021. Belgium experienced a relatively flat trend pattern. By contrast, Cyprus (-9.3%), Croatia (-18.1%) and Italy (-24.1%) illustrated a downward trend over the same period. Cyprus (+11 p.p.), the Netherlands (+8.6 p.p.), Denmark (+6.3 p.p.) and Belgium (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Poland, Croatia and Italy saw its share reduced by -2.4%, -2.9% and -7.9% from 2012 to 2021, respectively.

In value terms, Poland ($X) remains the largest tanker supplier in the European Union, comprising 62% of total exports. The second position in the ranking was held by Denmark ($X), with a 14% share of total exports. It was followed by the Netherlands, with a 7.4% share.

In Poland, tanker exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Denmark (+10.0% per year) and the Netherlands (+4.5% per year).

Export Prices by Country

The export price in the European Union stood at $X per unit in 2021, shrinking by -25% against the previous year. Over the period under review, the export price, however, posted buoyant growth. The pace of growth appeared the most rapid in 2020 when the export price increased by 92% against the previous year. As a result, the export price attained the peak level of $X per unit, and then reduced rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Denmark ($X per unit), while Croatia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+11.6%), while the other leaders experienced more modest paces of growth.

Tanker Imports

Imports in the EU

In 2021, imports of tankers in the European Union soared to X units, jumping by 49% compared with 2020 figures. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 54% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, tanker imports soared to $X in 2021. Overall, imports recorded slight growth. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Denmark (X units) and Belgium (X units) represented the largest importers of tankers in 2021, resulting at near 29% and 21% of total imports, respectively. Cyprus (X units) took the next position in the ranking, followed by Poland (X units), Finland (X units), Spain (X units) and France (X units). All these countries together took near 40% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Belgium (with a CAGR of +41.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tanker importing markets in the European Union were Denmark ($X), Poland ($X) and Belgium ($X), with a combined 55% share of total imports. These countries were followed by Cyprus, France, Finland and Spain, which together accounted for a further 30%.

France, with a CAGR of +55.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per unit, surging by 46% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 60% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per unit), while Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+16.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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