Orders for suezmax tanker newbuildings have reached 50 ships so far in 2023 with the prospect of more orders to come.

This is the highest number of orders placed in a single year in the past decade, narrowly beating the 48 ordered in 2015, according to figures compiled by Braemar.

The suezmax order backlog now stands at 63 vessels, or 11% of the existing fleet, according to the UK broker.