Turkey: Tanker Market 2024

Tanker Market Size in Turkey

In 2022, the Turkish tanker market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, saw pronounced growth. Over the period under review, the market hit record highs at $X in 2021, and then contracted notably in the following year.

Tanker Production in Turkey

In value terms, tanker production expanded remarkably to $X in 2022 estimated in export price. In general, the total production indicated a mild expansion 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Tanker production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Tanker Exports

Exports from Turkey

Tanker exports from Turkey expanded significantly to X units in 2022, growing by X% against the year before. Overall, exports, however, showed a mild decrease. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, tanker exports shrank to $X in 2022. Over the period under review, exports, however, saw a pronounced downturn. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units), Marshall Islands (X units) and Bahamas (X units) were the main destinations of tanker exports from Turkey, together comprising X% of total exports.

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

In value terms, the largest markets for tanker exported from Turkey were Malta ($X), Italy ($X) and Marshall Islands ($X), with a combined X% share of total exports. France, Saint Kitts and Nevis, the United Arab Emirates, Russia, Saint Vincent and the Grenadines and Bahamas lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2022, the average tanker export price amounted to $X,846 per unit, which is down by X% against the previous year. Overall, the export price continues to indicate a slight slump. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X,107 per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malta ($X,448 per unit), while the average price for exports to Bahamas ($X,000 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahamas (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tanker Imports

Imports into Turkey

In 2022, after two years of growth, there was significant decline in supplies from abroad of tankers, when their volume decreased by X% to X units. In general, imports, however, recorded a moderate expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Imports peaked at X units in 2021, and then plummeted in the following year.

In value terms, tanker imports shrank dramatically to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

Marshall Islands (X units), South Korea (X units) and China (X units) were the main suppliers of tanker imports to Turkey, together comprising X% of total imports.

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

In value terms, Marshall Islands ($X), China ($X) and South Korea ($X) were the largest tanker suppliers to Turkey, together comprising X% of total imports.

In terms of the main suppliers, Marshall Islands, 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

The average tanker import price stood at $X,596 per unit in 2022, with an increase of X% against the previous year. Overall, the import price, however, showed a perceptible slump. The growth pace was the most rapid in 2017 an increase of X%. As a result, import price attained the peak level of $X,008 per unit. From 2018 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Marshall Islands ($X,250 per unit), while the price for the UK ($X,000 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Marshall Islands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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