Africa: Tanker Market 2024

Tanker Market Size in Africa

The African tanker market reduced to $X in 2022, with a decrease of X% against the previous year. In general, consumption saw a mild setback. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Tanker Production in Africa

In value terms, tanker production surged to $X in 2022 estimated in export price. Over the period under review, production recorded a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Tanker Exports

Exports in Africa

In 2022, after two years of growth, there was significant decline in overseas shipments of tankers, when their volume decreased by X% to X units. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, tanker exports shrank notably to $X in 2022. Over the period under review, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped remarkably in the following year.

Exports by Country

Liberia was the major exporter of tankers in Africa, with the volume of exports resulting at X units, which was approx. X% of total exports in 2022. It was distantly followed by Angola (X units), mixing up a X% share of total exports. The following exporters - Botswana (X units), Ethiopia (X units), Ghana (X units), Libya (X units), Morocco (X units), Namibia (X units), Nigeria (X units), Seychelles (X units), South Africa (X units) and Swaziland (X units) - each amounted to a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Angola (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Liberia ($X) remains the largest tanker supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Angola ($X), with a X% share of total exports. It was followed by Libya, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Liberia totaled X%. In the other countries, the average annual rates were as follows: Angola (X% per year) and Libya (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X,000 per unit, surging by X% against the previous year. In general, the export price saw prominent growth. The growth pace was the most rapid in 2018 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 Liberia ($X,067 per unit), while South Africa ($X per unit) was amongst the lowest.

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

Tanker Imports

Imports in Africa

In 2022, approx. X units of tankers were imported in Africa; waning by X% on 2021. In general, imports showed a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, tanker imports contracted to $X in 2022. Over the period under review, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. 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

Liberia dominates imports structure, accounting for X units, which was approx. X% of total imports in 2022. It was distantly followed by Ghana (X units), generating a X% share of total imports. The following importers - Ethiopia (X units), Tanzania (X units), Nigeria (X units), South Africa (X units), Algeria (X units), Botswana (X units), Cameroon (X units), Uganda (X units), Sierra Leone (X units) and Seychelles (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to tanker imports into Liberia stood at X%. At the same time, South Africa (X%), Cameroon (X%), Botswana (X%) and Algeria (X%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Tanzania, Sierra Leone and Seychelles experienced a relatively flat trend pattern. By contrast, Ghana (X%), Uganda (X%), Ethiopia (X%) and Nigeria (X%) illustrated a downward trend over the same period. Liberia (X p.p.), South Africa (X p.p.) and Cameroon (X p.p.) significantly strengthened its position in terms of the total imports, while Ethiopia and Nigeria saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Liberia ($X) constitutes the largest market for imported tankers in Africa, comprising X% of total imports. The second position in the ranking was held by Algeria ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Liberia totaled X%. In the other countries, the average annual rates were as follows: Algeria (X% per year) and South Africa (X% per year).

Import Prices by Country

The import price in Africa stood at $X,779 per unit in 2022, leveling off at the previous year. Over the period under review, the import price showed a mild curtailment. The growth pace was the most rapid in 2016 when the import price increased by X%. Over the period under review, import prices hit record highs at $X,807 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Liberia ($X,077 per unit), while Tanzania ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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