Breakwave Tanker Shipping ETF (NYSE:BWET) was one of the top performers in the April 9 trading session, climbing about 15%. The surge came amid the reports from BIMCO that the global shipping order book has climbed to its highest level in nearly two decades.
Per the report, the global order book reached 191 million compensated gross tonnes (CGT) by the end of the first quarter of 2026, equivalent to 17% of the existing fleet, the highest ratio since 2011.
Tanker Activity Remains Strong
The global shipping industry is currently witnessing a powerful wave of new vessel orders with the tanker segment being the primary driver of the growth. Though total contracts fell 17% from the fourth quarter of 2025, new orders are running 47% above the average levels seen in the 2010s. A stronger freight market, a larger global fleet, and a growing need to replace aging vessels are fueling growth in new orders.
Newbuilding orders jumped 40% year-over-year in the first quarter to 17.6 million CGT, led …
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