Latin America and the Caribbean: Tanker Market 2024

Tanker Market Size in Latin America and the Caribbean

In 2022, the Latin American tanker market decreased by X% to $X, falling for the third consecutive year after four years of growth. In general, consumption faced a deep reduction. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tanker Production in Latin America and the Caribbean

In value terms, tanker production expanded significantly to $X in 2022 estimated in export price. Overall, production, however, faced a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Tanker Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of tankers decreased by X% to X units for the first time since 2015, thus ending a six-year declining trend. Over the period under review, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tanker exports shrank sharply to $X in 2022. In general, exports showed a deep reduction. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belize represented the major exporter of tankers in Latin America and the Caribbean, with the volume of exports resulting at X units, which was approx. X% of total exports in 2022. It was distantly followed by Brazil (X units), British Virgin Islands (X units), Chile (X units) and Peru (X units), together making up a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belize (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest tanker supplying countries in Latin America and the Caribbean were Belize ($X), British Virgin Islands ($X) and Chile ($X), together accounting for X% of total exports.

Among the main exporting countries, Belize, 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 a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X,759 per unit in 2022, with a decrease of X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. As a result, the export price reached the peak level of $X,431 per unit. From 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was British Virgin Islands ($X,660 per unit), while Brazil ($X per unit) was amongst the lowest.

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

Tanker Imports

Imports in Latin America and the Caribbean

Tanker imports reduced sharply to X units in 2022, with a decrease of X% compared with the year before. Overall, imports showed a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, tanker imports fell notably to $X in 2022. In general, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, British Virgin Islands (X units), distantly followed by Argentina (X units), Cayman Islands (X units), Colombia (X units), Saint Kitts and Nevis (X units), Belize (X units), Chile (X units), Ecuador (X units), Peru (X units) and Saint Vincent and the Grenadines (X units) were the main importers of tankers, together achieving X% of total imports. The following importers - Antigua and Barbuda (X units) and Brazil (X units) - each amounted to a X% share of total imports.

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

In value terms, Cayman Islands ($X) constitutes the largest market for imported tankers in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Argentina ($X), with a X% share of total imports. It was followed by Chile, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Cayman Islands was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Chile (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X,459 per unit in 2022, falling by X% against the previous year. In general, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. The level of import peaked at $X,483 per unit in 2018; however, from 2019 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 Cayman Islands ($X,952 per unit), while Antigua and Barbuda ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :