Forecast: Number of Liquid Bulk Tankers in the UK

The number of liquid bulk tankers in the UK has shown a consistent decline from 2013 to 2023, with the exception of a significant drop in 2020 and a partial recovery in subsequent years. As of 2023, the value stands at 13.09 thousand tankers, showing a 1.25% decrease from 2022. Overall, the CAGR for the past five years is -1.31%, indicating a gradual decline. The sharp decrease in 2020 can be attributed to external factors, possibly the COVID-19 pandemic, which drastically impacted supply chains and demand.

Looking ahead to the forecasted period from 2024 to 2028, the number of liquid bulk tankers is expected to continue decreasing at a CAGR of -1.08%, leading to a 5.26% total decrease over these five years. This suggests ongoing challenges in the sector, potentially due to shifts in fuel demand, regulatory changes, and market dynamics.

Future trends to watch for include advancements in alternative fuel technologies, regulatory changes targeting emissions reductions, and shifts in global trade patterns that could impact the demand and operational efficiency of liquid bulk tankers in the UK.