Australia and Oceania: Tanker Market 2024

Tanker Market Size in Australia and Oceania

In 2022, the tanker market in Australia and Oceania increased by X% to $X for the first time since 2016, thus ending a five-year declining trend. Over the period under review, consumption posted a notable increase. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Tanker Production in Australia and Oceania

In value terms, tanker production shrank remarkably to $X in 2022 estimated in export price. Overall, production, however, showed a modest expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Tanker Exports

Exports in Australia and Oceania

In 2022, approx. X units of tankers were exported in Australia and Oceania; shrinking by X% against 2021 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X units in 2021, and then declined markedly in the following year.

In value terms, tanker exports shrank notably to $X in 2022. Overall, exports, however, showed a strong expansion. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell remarkably in the following year.

Exports by Country

In 2022, Marshall Islands (X units) was the key exporter of tankers, mixing up X% of total exports. It was distantly followed by Kiribati (X units) and Australia (X units), together making up a X% share of total exports.

Marshall Islands was also the fastest-growing in terms of the tankers exports, with a CAGR of X% from 2012 to 2022. Kiribati experienced a relatively flat trend pattern. Australia (X%) illustrated a downward trend over the same period. While the share of Marshall Islands (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Marshall Islands ($X) remains the largest tanker supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by Kiribati ($X), with a X% share of total exports.

In Marshall Islands, tanker exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Kiribati (X% per year) and Australia (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X,720 per unit in 2022, growing by X% against the previous year. Overall, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

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 Marshall Islands ($X,845 per unit), while Australia ($X per unit) was amongst the lowest.

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

Tanker Imports

Imports in Australia and Oceania

In 2022, after two years of decline, there was significant growth in purchases abroad of tankers, when their volume increased by X% to X units. In general, imports saw a temperate expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, tanker imports rose notably to $X in 2022. Overall, imports saw noticeable growth. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Marshall Islands dominates imports structure, accounting for X units, which was approx. X% of total imports in 2022. Niue (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tanker imports into Marshall Islands stood at X%. At the same time, Niue (X%) displayed positive paces of growth. Moreover, Niue emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2022. While the share of Niue (X p.p.) and Marshall Islands (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Marshall Islands ($X) constitutes the largest market for imported tankers in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by Niue ($X), with less than X% share of total imports.

In Marshall Islands, tanker imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Australia and Oceania stood at $X,896 per unit in 2022, reducing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X,218 per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Marshall Islands ($X,689 per unit), while Niue amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niue (X%).

Source: IndexBox Platform

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