ECONOMY

Aframax tanker orders reached a historic high…

Aframax tanker orders reached a historic high last year, with 248 ships to be delivered by 2010, totaling over 27 million tons. Most of the orders are being made at Japanese and Korean shipyards. Orders from China are considerably high (55), while Vietnam, a new entrant into the market, has four orders for new ships. Greek shipowners have ordered 48 aframax tankers, followed by the Japanese with 40 new orders.