Fuel-Tanker Demand Is Booming as Asia, Middle East Refine More Oil
- Major refined-products users looking farther afield for supply
- Orders to build fuel tankers are nearing decade-high levels
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The center of gravity in the global oil-refining complex is shifting sharply eastward — and that’s spurring a boom in the business of building ships to haul fuel around the globe.
As many as 38 mid-range tankers have been ordered this year, marking one of the busiest quarters since 2013, according to ship broker Braemar. The number of ships assigned international serial numbers — another gauge of orders — is at 28 this year, closing in on the total of 31 for all of 2022, according to ship broker Simpson Spence Young.