Cuba: Tanker Market 2022

Tanker Market Size in Cuba

The Cuban tanker market totaled less than $X in 2020, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern.

Tanker Exports

Exports by Country

In 2021, the Netherlands (X units), distantly followed by South Korea (X units), Poland (X units), Germany (X units) and Marshall Islands (X units) represented the main exporters of tankers, together achieving X% of total exports. The following exporters - Romania (X units), the United Arab Emirates (X units), Turkey (X units) and Liberia (X units) - together made up X% of total exports.

From 2012 to 2021, average annual rates of growth with regard to tanker exports from the Netherlands stood at -X%. At the same time, Poland (+X%), Marshall Islands (+X%) and the United Arab Emirates (+X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2012-2021. By contrast, Turkey (-X%), Germany (-X%), South Korea (-X%), Liberia (-X%) and Romania (-X%) illustrated a downward trend over the same period. While the share of Poland (+X p.p.), Marshall Islands (+X p.p.), the Netherlands (+X p.p.) and the United Arab Emirates (+X p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Liberia (-X p.p.), Romania (-X p.p.), Germany (-X p.p.) and South Korea (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea was relatively modest. In the other countries, the average annual rates were as follows: Poland (-X% per year) and Marshall Islands (+X% per year).

Export Prices by Country

The export price in Cuba stood at less than $X per thousand units in 2021, approximately equating the previous year. Overall, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per thousand units), while Romania ($X per thousand units) was amongst the lowest.

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

Tanker Imports

Imports by Country

The purchases of the four major importers of tankers, namely Indonesia, Poland, Brazil and Belgium, represented more than two-thirds of total import. It was distantly followed by France (X units), constituting a X% share of total imports. The following importers - Panama (X units) and Cayman Islands (X units) - each finished at a X% share of total imports.

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

In value terms, the largest tanker importing markets into Cuba were Panama ($X), France ($X) and Poland ($X), together comprising X% of total imports.

In terms of the main importing countries, France, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, 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 Cuba amounted to less than $X per thousand units, approximately mirroring the previous year. In general, the import price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Panama ($X per thousand units), while Brazil ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform