Lithuania: Tanker Market 2020

Tanker Market Size in Lithuania

The revenue of the tanker market in Lithuania amounted to $X in 2018, jumping by X% against the previous year. Over the period under review, tanker consumption, however, continues to indicate a significant decrease. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Lithuania tanker consumption peaked at $X in 2010; however, from 2011 to 2018, consumption stood at a somewhat lower figure.

Tanker Production in Lithuania

In value terms, tanker production totaled $X in 2018 estimated in export prices. Over the period under review, tanker production, however, continues to indicate a deep curtailment. The growth pace was the most rapid in 2009 when production volume increased by X% year-to-year. Over the period under review, tanker production attained its peak figure level at $X in 2010; however, from 2011 to 2018, production remained at a lower figure.

Tanker Exports

Exports from Lithuania

In 2018, the amount of tankers exported from Lithuania amounted to X tons, going down by -X% against the previous year. Overall, tanker exports continue to indicate a drastic slump. The most prominent rate of growth was recorded in 2013 with a decrease of -X% against the previous year. Lithuania exports peaked at X tons in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, tanker exports totaled $X in 2018. In general, tanker exports continue to indicate an abrupt decrease. The pace of growth was the most pronounced in 2012 with an increase of X% y-o-y. In that year, tanker exports attained their peak of $X. From 2013 to 2018, the growth of tanker exports failed to regain its momentum.

Exports by Country

South Korea was the major exporter of tankers in the world, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2018. It was distantly followed by Japan (X tons), the Philippines (X tons) and Germany (X tons), together constituting a X% share of total exports. The following exporters - Bahamas (X tons), Poland (X tons), Niue (X tons) and Singapore (X tons) - each resulted at a X% share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Niue, while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the largest tanker supplier from Lithuania, comprising X% of global exports. The second position in the ranking was occupied by Japan ($X), with a X% share of global exports. It was followed by Poland, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in South Korea totaled +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+X% per year) and Poland (-X% per year).

Export Prices by Country

The tanker export price in Lithuania stood at $X per ton in 2018, growing by X% against the previous year. Overall, the tanker export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2012 when the export price increased by X% y-o-y. In that year, the export prices for tankers attained their peak level of $X per ton. From 2013 to 2018, the growth in terms of the export prices for tankers remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Poland ($X per ton), while Bahamas ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Poland, while the other leaders experienced more modest paces of growth.

Tanker Imports

Imports into Lithuania

In 2018, approx. X kg of tankers were imported into Lithuania; falling by -X% against the previous year. Over the period under review, tanker imports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2012 when imports decreased by -X% against the previous year. Over the period under review, tanker imports attained their peak figure at X tons in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, tanker imports totaled $X in 2018. In general, tanker imports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2016 when imports decreased by -X% year-to-year. Lithuania imports peaked at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

In 2018, Marshall Islands (X tons), Panama (X tons), China, Hong Kong SAR (X tons), Bahamas (X tons), Malta (X tons), Greece (X tons), Liberia (X tons), the UK (X tons), Singapore (X tons), British Virgin Islands (X tons), Saudi Arabia (X tons) and Russia (X tons) were the key importers of tankers in the world, achieving X% of total import.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by British Virgin Islands, while the other leaders experienced more modest paces of growth.

In value terms, the largest tanker importing markets into Lithuania were Marshall Islands ($X), Panama ($X) and Singapore ($X), together comprising X% of total imports. These countries were followed by China, Hong Kong SAR, Bahamas, Malta, Greece, Liberia, the UK, Russia, Saudi Arabia, British Virgin Islands and Lithuania, which together accounted for a further X the main importing countries, British Virgin Islands recorded the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the tanker import price in Lithuania amounted to $X per ton, surging by X% against the previous year. Overall, the tanker import price continues to indicate skyrocketing growth. The pace of growth appeared the most rapid in 2017 when the import price increased by X% y-o-y. Lithuania import price peaked in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Singapore ($X per ton), while British Virgin Islands ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Singapore, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform