TAnker’s ordering activity grew significantly during the first half of the year. In its latest weekly report, shipbroker Xclusiv said: “The new tanker construction market entered 2026 with much stronger momentum, reflecting growing confidence in long-term market fundamentals despite continued uncertainty surrounding environmental regulations and future propulsion technologies. As of mid-2026, the tanker fleet (>10,000 dwt) consisted of 8,090 vessels, while the global order book expanded to 1,535 vessels, resulting in a Order book to fleet 19.0% compared to an active fleet of 7,746 vessels and order book of 1,220 vessels during the same period in 2025, when it stood at 15.8%. While the fleet grew by approximately 4.4% year-on-year, order book increased by approximately 26%, highlighting a clear acceleration in investment activity across the sector.
Source: Exclusive Ship Brokers
according to Previous year Aframax/LR2 vessels maintain a healthy ratio of 20.0%, up from 17.5%, while MR2 tankers remain broadly stable at 16.3% In contrast, the Handy/MR1 sector continues to display the least replacement activity, with an order book to fleet ratio of just 10.7%, although improving from 7.7% in 2025. Overall, the figures suggest that owners are prioritizing. For the largest and most diversified carrier classes where the long-term earnings outlook remains the strongest.
The shipbroker added: “Deliveries of newbuildings have also accelerated during 2026. A total of 238 tankers have been delivered so far this year compared to just 111 during the corresponding period in 2025, representing an increase of more than 114%. Deliveries were up in almost every sector, led by MR2 tankers with 63 vessels, followed by small tankers (56), Aframax/LR2s (47), “Swismax”. (26) and VLCCs (19) The significant increase in deliveries reflects the exceptionally strong demand cycle witnessed in recent years and confirms that fleet growth is gradually accelerating after several years of historically limited supply additions.
Meanwhile, “ordering activity strengthened even more impressively. During the first half of 2026, owners placed 407 new tanker contracts compared to just 139 during the same period in 2025, an increase of almost 193%. VLCCs dominate contracting activity with 147 orders, followed by MR2 tankers with 82, Suezmaxes with 76 and Aframax/LR2 tankers B 66. The renewed appetite for large crude oil carriers is particularly striking and indicates that owners expect crude oil trading patterns and ton-mile demand to remain well supportive over the next decade.
Source: Exclusive Ship Brokers
“Greek owners continue to play a leading role in the newbuild tanker market, although with a slightly different strategy. They have taken delivery of 73 ships during 2026 compared to 93 ships in 2025, with Aframax/LR2s and Suezmaxes accounting for more than half of this year’s shipments. At the same time, Greek contracting activity has accelerated significantly. Greek owners have placed 147 newbuild orders so far in 2026 compared to 113 “During the same period in 2025, representing more than a third of all global tanker contracts signed this year,” Exclusive concluded. “Their investment interest has been strongly focused on VLCCs, with 58 orders, followed by Suezmaxes with 40 and MR2 tankers with 30, underscoring their continued confidence in the long-term prospects of the crude oil tanker market and their willingness to position themselves early in the next investment cycle.”
Nikos Rousanoglou, Global Hellenic Shipping News
