MENA: Tanker Market 2024

Tanker Market Size in MENA

After two years of growth, the MENA's tanker market decreased by X% to $X in 2022. The total consumption indicated a measured 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. The level of consumption peaked at $X in 2021, and then contracted notably in the following year.

Tanker Production in MENA

In value terms, tanker production expanded modestly to $X in 2022 estimated in export price. The total production indicated mild growth 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 increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Tanker Exports

Exports in MENA

In 2022, tanker exports in MENA contracted modestly to X units, with a decrease of X% against 2021. Over the period under review, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tanker exports declined sharply to $X in 2022. Overall, exports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X units), distantly followed by the United Arab Emirates (X units), Iran (X units) and Saudi Arabia (X units) were the key exporters of tankers, together making up X% of total exports. The following exporters - Lebanon (X units), Libya (X units) and Morocco (X units) - each recorded a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Saudi Arabia ($X) and Libya ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MENA stood at $X,998 per unit in 2022, reducing by X% against the previous year. In general, the export price, however, saw a significant increase. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X,836 per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X,802 per unit), while Iran ($X per unit) was amongst the lowest.

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

Tanker Imports

Imports in MENA

After two years of growth, supplies from abroad of tankers decreased by X% to X units in 2022. In general, imports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then reduced rapidly in the following year.

In value terms, tanker imports declined markedly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by X%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Turkey represented the main importer of tankers in MENA, with the volume of imports resulting at X units, which was near X% of total imports in 2022. It was distantly followed by Kuwait (X units), the United Arab Emirates (X units), Algeria (X units), Iran (X units) and Oman (X units), together creating a X% share of total imports. The following importers - Djibouti (X units), Iraq (X units), Lebanon (X units) and Morocco (X units) - each accounted for a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Algeria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X), Turkey ($X) and Algeria ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Morocco, Iran, Oman, Iraq, Djibouti, Lebanon and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Djibouti, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X,314 per unit, rising by X% against the previous year. Overall, the import price showed modest growth. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price attained the peak level of $X,361 per unit. From 2017 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Algeria ($X,438 per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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