Report Update Nov 1, 2024

Vietnam - Tankers - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Tanker Market 2024

Tanker Market Size in Vietnam

The Vietnamese tanker market soared to $X in 2021, increasing by 84% against the previous year. Over the period under review, consumption posted a buoyant increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Tanker Production in Vietnam

In value terms, tanker production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 11%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Tanker Exports

Exports from Vietnam

In 2021, shipments abroad of tankers was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a deep contraction. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, tanker exports soared to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X units) and South Korea (X units) were the main destinations of tanker exports from Vietnam.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of 0.0%).

In value terms, South Korea ($X) emerged as the key foreign market for tankers exports from Vietnam, comprising 62% of total exports. The second position in the ranking was taken by Panama ($X), with a 5.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +18.0%.

Export Prices by Country

In 2021, the average tanker export price amounted to $X per unit, growing by 622% against the previous year. In general, the export price recorded a prominent increase. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Panama amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-1.9%), while the prices for the other major destinations experienced a decline.

Tanker Imports

Imports into Vietnam

In 2021, the amount of tankers imported into Vietnam surged to X units, with an increase of 100% compared with the previous year. Over the period under review, imports showed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tanker imports skyrocketed to $X in 2021. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 301%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Japan (X units), Norway (X units) and Panama (X units) were the main suppliers of tanker imports to Vietnam, together accounting for 67% of total imports. Moreover, tanker imports in Japan exceeded the figures recorded by the second-largest supplier, Norway, twofold.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +8.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of tankers to Vietnam, comprising 37% of total imports. The second position in the ranking was held by Norway ($X), with a 6.9% share of total imports. It was followed by China, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +31.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (0.0% per year) and China (+27.5% per year).

Import Prices by Country

In 2021, the average tanker import price amounted to $X per unit, jumping by 74% against the previous year. In general, the import price saw prominent growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by 160%. The import price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Panama ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+20.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tankers in the world?

The countries with the highest volumes of in 2021 were China, Germany and Indonesia, together comprising 54% of global consumption. These countries were followed by Poland, Brazil, Belgium and France, which together accounted for a further 34%.

What are the largest producers of tankers in the world?

The countries with the highest volumes of in 2021 were China, Germany and South Korea, with a combined 90% share of global production.

What are the leading suppliers of tankers to Vietnam?

In value terms, Japan constituted the largest supplier of tanker to Vietnam, comprising 58% of total imports. The second position in the ranking was occupied by Italy, with a 14% share of total imports. It was followed by Panama, with a 10% share.

What are the leading importers of tankers from Vietnam?

In value terms, Panama remains the key foreign market for tanker exports from Vietnam, comprising 20% of total exports. The second position in the ranking was occupied by Indonesia, with a 7.3% share of total exports.

What is the average export price for tankers in Vietnam?

The average tanker export price stood at $469,319 per unit in 2021, which is down by -73.9% against the previous year.

What is the average import price for tankers in Vietnam?

In 2021, the average tanker import price amounted to $29,608 per unit, increasing by 1.5% against the previous year.

This report provides an in-depth analysis of the tanker market in Vietnam. 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:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. 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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. 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
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. 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
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023