EU: Tanker Market 2024

Tanker Market Size in the EU

The EU tanker market declined to $X,873B in 2022, dropping by X% against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X,596.6B in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Tanker Production in the EU

In value terms, tanker production reduced to $X,575.7B in 2022 estimated in export price. In general, production showed a perceptible setback. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X,454.3B. From 2019 to 2022, production growth failed to regain momentum.

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Tanker Exports

Exports in the EU

In 2022, overseas shipments of tankers increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tanker exports soared to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden prevails in exports structure, resulting at X units, which was near X% of total exports in 2022. The following exporters - the Netherlands (X units), Denmark (X units) and Germany (X units) - together made up X% of total exports.

Sweden was also the fastest-growing in terms of the tankers exports, with a CAGR of X% from 2012 to 2022. At the same time, Denmark (X%), the Netherlands (X%) and Germany (X%) displayed positive paces of growth. From 2012 to 2022, the share of Sweden increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X), Germany ($X) and the Netherlands ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Sweden lagged somewhat behind, accounting for a further X%.

Sweden, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X,524 per unit in 2022, falling by X% against the previous year. Overall, the export price faced a deep setback. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked at $X,259 per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X,449 per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the other leaders experienced a decline in the export price figures.

Tanker Imports

Imports in the EU

Tanker imports reduced remarkably to X units in 2022, which is down by X% compared with the year before. Over the period under review, imports showed a slight decrease. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units, and then shrank rapidly in the following year.

In value terms, tanker imports contracted slightly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Netherlands (X units) and Poland (X units) were the largest importers of tankers in the European Union, together mixing up X% of total imports. Denmark (X units) held the next position in the ranking, followed by France (X units) and Germany (X units). All these countries together held approx. X% share of total imports. Belgium (X units), Finland (X units), Hungary (X units), Sweden (X units), Greece (X units), Ireland (X units), Luxembourg (X units) and Romania (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Hungary (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tanker importing markets in the European Union were France ($X), Germany ($X) and Denmark ($X), with a combined X% share of total imports. Poland, Greece, the Netherlands, Sweden, Finland, Belgium, Luxembourg, Romania, Hungary and Ireland lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Hungary, with a CAGR of X.5%, saw the highest growth rate of 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

The import price in the European Union stood at $X,805 per unit in 2022, surging by X% against the previous year. Overall, the import price saw a slight expansion. Over the period under review, import prices hit record highs at $X,967 per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Greece ($X,123 per unit), while Ireland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (X.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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