Tanker orders off sharply in 2025

Tanker ordering has contracted sharply, with Clarksons Research Services (CRS) reporting just 198 tanker orders, totalling 15.8M-dwt placed between January and August, a 61% year-on-year decline in tonnage ordered.

This downturn reflects subdued appetite amid high newbuild prices and policy uncertainty, as the sector contends with softer freight markets and cost pressures.

Hanwha Philly Shipyard achieved a rare boost in August 2025, securing what CRS describes as “the largest merchant order at a US yard in over 25 years, with a contract for 10 MR tankers from the group’s US-based shipping division in August”.

The vessels, each classified as MR-type tankers, represent a notable exception to broader market caution and underline continued interest in versatile, product and oil carrier tonnage capable of trading on short-sea and international oil and products routes.

Meanwhile, Histria Group’s Santierul Naval Constanţa yard in Romania has retained options on two further 40,000-dwt crude oil tankers.

The firm pair are due for delivery in September 2027 and March 2028 and are estimated at US$45M each.

These options could bring the total series to four vessels, supplementing the two already under construction, should charterers or the owner opt to proceed.