
Latin America and the Caribbean - Tankers - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingLatin America and the Caribbean: Tanker Market 2025
Tanker Market Size in Latin America and the Caribbean
In 2021, the Latin American tanker market was finally on the rise to reach $X after two years of decline. In general, consumption, however, saw a perceptible decrease. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.
Tanker Production in Latin America and the Caribbean
In value terms, tanker production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep setback. The growth pace was the most rapid in 2014 when the production volume increased by 52% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.
Tanker Exports
Exports in Latin America and the Caribbean
In 2021, shipments abroad of tankers increased by 100% to X units, rising for the third consecutive year after three years of decline. In general, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2019 when exports increased by 200% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.
In value terms, tanker exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a noticeable setback. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
Panama was the main exporting country with an export of around X units, which amounted to 63% of total exports. It was distantly followed by Bahamas (X units), achieving a 38% share of total exports.
From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Panama (with a CAGR of -3.7%).
In value terms, Panama ($X) remains the largest tanker supplier in Latin America and the Caribbean, comprising 76% of total exports. The second position in the ranking was taken by Bahamas ($X), with a 6.9% share of total exports.
From 2012 to 2021, the average annual rate of growth in terms of value in Panama stood at +8.8%.
Export Prices by Country
The export price in Latin America and the Caribbean stood at $X per unit in 2021, growing by 20% against the previous year. Overall, the export price recorded a strong increase. The pace of growth appeared the most rapid in 2018 an increase of 336%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per unit), while Bahamas totaled $X per unit.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+12.3%).
Tanker Imports
Imports in Latin America and the Caribbean
After two years of decline, purchases abroad of tankers increased by 26% to X units in 2021. Over the period under review, imports enjoyed a modest expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 50%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.
In value terms, tanker imports rose markedly to $X in 2021. In general, imports, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 70% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.
Imports by Country
Panama represented the main importer of tankers in Latin America and the Caribbean, with the volume of imports finishing at X units, which was approx. 76% of total imports in 2021. It was distantly followed by Bahamas (X units), creating a 12% share of total imports. Argentina (X units), Cayman Islands (X units) and British Virgin Islands (X units) took a little share of total imports.
Imports into Panama increased at an average annual rate of +8.0% from 2012 to 2021. At the same time, Cayman Islands (+13.0%) and British Virgin Islands (+8.0%) displayed positive paces of growth. Moreover, Cayman Islands emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +13.0% from 2012-2021. By contrast, Argentina (-6.0%) and Bahamas (-10.0%) illustrated a downward trend over the same period. While the share of Panama (+32 p.p.) and Cayman Islands (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Argentina (-4.1 p.p.) and Bahamas (-23.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Panama ($X) constitutes the largest market for imported tankers in Latin America and the Caribbean, comprising 67% of total imports. The second position in the ranking was taken by Bahamas ($X), with a 25% share of total imports. It was followed by Cayman Islands, with a 4% share.
In Panama, tanker imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bahamas (-5.5% per year) and Cayman Islands (+0.2% per year).
Import Prices by Country
In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, waning by -11.3% against the previous year. In general, the import price continues to indicate a perceptible slump. The growth pace was the most rapid in 2016 when the import price increased by 46%. Over the period under review, import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahamas ($X per unit), while Argentina ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahamas (+4.8%), while the other leaders experienced a decline in the import price figures.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the tanker market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 30112210 - Crude oil tankers
- Prodcom 30112230 - Oil product tankers
- Prodcom 30112250 - Chemical tankers
- Prodcom 30112270 - Gas carriers
Country coverage:
- Anguilla
- Antigua and Barbuda
- Argentina
- Aruba
- Bahamas
- Barbados
- Belize
- Bolivia
- Brazil
- British Virgin Islands
- Cayman Islands
- Chile
- Colombia
- Costa Rica
- Cuba
- Curacao
- Dominica
- Dominican Republic
- Ecuador
- El Salvador
- Falkland Islands (Malvinas)
- French Guiana
- Grenada
- Guadeloupe
- Guatemala
- Guyana
- Haiti
- Honduras
- Jamaica
- Martinique
- Mexico
- Montserrat
- Nicaragua
- Panama
- Paraguay
- Peru
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- Saint Maarten (Dutch part)
- Suriname
- Trinidad and Tobago
- Turks and Caicos Islands
- United States Virgin Islands
- Uruguay
- Venezuela
- Puerto Rico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Latin America and the Caribbean, split by region and country
- Trade (exports and imports) in Latin America and the Caribbean
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Anguilla
- Antigua and Barbuda
- Argentina
- Aruba
- Bahamas
- Barbados
- Belize
- Bolivia
- Brazil
- British Virgin Islands
- Cayman Islands
- Chile
- Colombia
- Costa Rica
- Cuba
- Curacao
- Dominica
- Dominican Republic
- Ecuador
- El Salvador
- Falkland Islands (Malvinas)
- French Guiana
- Grenada
- Guadeloupe
- Guatemala
- Guyana
- Haiti
- Honduras
- Jamaica
- Martinique
- Mexico
- Montserrat
- Nicaragua
- Panama
- Paraguay
- Peru
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- Saint Maarten (Dutch part)
- Suriname
- Trinidad and Tobago
- Turks and Caicos Islands
- United States Virgin Islands
- Uruguay
- Venezuela
- Puerto Rico
-
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption, By Country, 2018–2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Destination, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Origin, 2012–2024
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Consumption, By Country, 2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Production, By Country, 2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, 2012–2024
Recommended reports
This report provides an in-depth analysis of the tanker market in Asia.
This report provides an in-depth analysis of the global tanker market.
This report provides an in-depth analysis of the tanker market in the EU.
This report provides an in-depth analysis of the tanker market in the U.S..
This report provides an in-depth analysis of the tanker market in China.