South-Eastern Asia: Tanker Market 2025

Tanker Market Size in South-Eastern Asia

The Southeast Asian tanker market was estimated at $X in 2021, therefore, remained relatively stable against the previous year. The total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -23.7% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Tanker Production in South-Eastern Asia

In value terms, tanker production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Tanker Exports

Exports in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of tankers, when their volume increased by 7.1% to X units. Overall, exports, however, saw a deep setback. The pace of growth appeared the most rapid in 2016 with an increase of 59%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, tanker exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 72% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Singapore (X units), distantly followed by Thailand (X units), the Philippines (X units), Vietnam (X units) and Indonesia (X units) represented the major exporters of tankers, together creating 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +16.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest tanker supplier in South-Eastern Asia, comprising 72% of total exports. The second position in the ranking was held by Thailand ($X), with a 9.8% share of total exports. It was followed by Vietnam, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore stood at +3.4%. In the other countries, the average annual rates were as follows: Thailand (+13.0% per year) and Vietnam (+0.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, picking up by 40% against the previous year. In general, the export price showed a buoyant expansion. The pace of growth appeared the most rapid in 2019 an increase of 274%. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+10.1%), while the other leaders experienced more modest paces of growth.

Tanker Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of tankers decreased by 0% to X units, falling for the second year in a row after two years of growth. Total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -37.9% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 84% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, tanker imports rose significantly to $X in 2021. Total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -31.4% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 69%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Singapore was the key importing country with an import of around X units, which reached 46% of total imports. Indonesia (X units) ranks second in terms of the total imports with a 24% share, followed by Thailand (14%) and Malaysia (8.9%). The following importers - Vietnam (X units) and the Philippines (X units) - together made up 6.8% 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 Thailand (with a CAGR of +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported tankers in South-Eastern Asia, comprising 72% of total imports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total imports. It was followed by Vietnam, with a 7.5% share.

In Singapore, tanker imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+18.3% per year) and Vietnam (+36.0% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, increasing by 11% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The level of import peaked at $X per unit in 2013; however, from 2014 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 Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+23.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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