The ratio of crude tanker capacity currently on order to crude tanker capacity currently in service has plummeted to an all-time low of just 2.7 percent, this due to pressures from the global warming crowd to “decarbonize” the shipping industry.
Because the writing is on the wall concerning the use of earth-based fuels like oil and gasoline – the climate change brigade wants these made obsolete – the owners of tankers that use such products are holding out on ordering new ships until it becomes clear the direction the “clean” energy industry is going to take.
“To decarbonize shipping, you either need an onboard carbon-capture system (which doesn’t exist yet) or to build new vessels that burn something other than fuel oil,” reported Greg Miller, writing for Freight Waves.
“The regulations on this new fuel haven’t been written yet. So, why would tanker owners in the business of making money accept the residual-value risk of ordering ships that could be prematurely obsolete after the rules are written? … The answer is: They haven’t and they won’t. There is now a historically low number of crude and product tankers on order.”
(Related: Check out our earlier coverage about the dismal state of the American food supply chain due to covid.)
Between climate hysteria and the residual fallout from covid, global shipping and supply chains are screeching to a halt
The situation is almost as severe on the product tanker side, the orderbook-to-fleet ratio of which has cratered to just 6.1 percent. And once again, it is because nobody wants to order new ships that rely on fuel technologies that are slated for tougher regulations.
“We are now seeing what happens when you go several years without investing [in new capacity],” said Jefferies analyst Omar Nokta about the dire situation.
Crude and product tanker owners only just recently started making money again after several dismal years of covid-induced supply chain failures, with 2020 and 2021 being the two worst years for the industry in 30 years.
“There is a two- to three-year lag between when an order is placed and when a new tanker is delivered,” Miller further explained about how the industry typically works. “These assets last 20-25 years. Thus, a newbuild ordered today will likely be in service in 2050.”
“If the world is actually decarbonizing and shifting away from consumption of dirty fossil fuels, what are tankers ordered today going to carry in the latter years of their life spans?”
The answer, of course, is that they will potentially carry nothing, hence why nobody is placing any new orders. In essence, the global shipping industry appears to be screeching to a halt, both due to climate hysteria and covid hysteria, which together have decimated both the tanker industry and global supply chains at large.
According to Bob Burke, CEO of Ridgebury Tankers, the overall lack of tank orders has nothing to do with capital discipline, which does not even exist in a market like this.
“It’s just not in our own best interest to order expensive ships with uncertainty over propulsion systems,” he said.
“For a ship that will be delivered two and a half years from now, at historically high prices, with a capital drag until delivery and when you don’t know whether the propulsion system is going to last very long, it is really hard for a shipowner to go out and take a flier on something like that without a charter from an oil company.”
The only people currently placing orders for new tankers either have some kind of tax incentive to do so or they are receiving backing from a longer-term charter, “typically for a dual-fuel design,” added Maersk Tankers CEO Christian Ingerslev.
“Otherwise, there’s nothing being ordered.”
More related news can be found at GreenTyranny.news.
Sources for this article include:
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
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Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
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Stronger Fit for Precious Metals IRAs
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Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.
Hopefully the climate idiots will be the first to suffer the consequences of their incompetence!