Apr 24, 2026

Norwegian chemical tanker owner Odfjell is advancing its fleet renewal strategy with an order for four new vessels, as reported by Splash247. The company has secured four fully stainless-steel ships of 40,000 deadweight tons from a Japanese shipyard.

The Bergen-based firm has reached an agreement to purchase these vessels from a Japanese owner after their completion at Kitanihon Shipbuilding. Deliveries are scheduled between the first quarter of 2027 and the second quarter of 2029, with the total transaction valued at approximately $290 million.

These newbuilds will serve in Odfjell’s core deep-sea operations and represent the next generation of what the company calls super-segregators, a market segment where it has maintained a strong presence for many years. Chief Executive Harald Fotland stated that these ships will set a higher standard for efficiency and design in this category.

The vessels are built to comply with future environmental regulations, including the proposed IMO Energy Efficiency Design Index Phase 5 standards expected from 2035. According to Odfjell, this represents a 50% improvement over the 2009 baseline and makes the ships roughly 25% more efficient than the best-performing 40,000 dwt vessels currently in its fleet. The design incorporates sails, a gate rudder, and other advanced energy-saving technologies.

This acquisition continues Odfjell’s fleet transformation. Since the second quarter of 2025, the company has scrapped three older super-segregators and recently sold a 26,000 dwt newbuilding under construction in China. Odfjell currently operates a fleet of around 70 vessels and remains a significant player in the chemical tanker market. Earlier this year, the firm stated it controls about 14% of the global orderbook in its core trades.

In total, Odfjell has 22 newbuildings on order, including both owned and long-term chartered vessels, with deliveries extending through 2029. Ten of those ships are expected to join the fleet in 2026 alone.

Interactive table based on the Store Companies dataset for this report.

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#
Company
Headquarters
Focus
Scale
Note

1
Mitsubishi Heavy Industries
Tokyo
Shipbuilding & Engineering
Very Large
Major builder of various tanker types

2
Imabari Shipbuilding
Imabari, Ehime
Shipbuilding
Very Large
World’s largest shipbuilder by gross tonnage

3
Japan Marine United
Tokyo
Shipbuilding
Very Large
Formed from merger of IHI Marine and Universal Shipbuilding

4
Oshima Shipbuilding
Saikai, Nagasaki
Shipbuilding
Large
Specializes in bulk carriers and tankers

5
Mitsui E&S Holdings
Tokyo
Shipbuilding & Engineering
Large
Historic major shipbuilder

6
Kawasaki Heavy Industries
Tokyo
Shipbuilding & Engineering
Very Large
Builds LNG, LPG, and oil tankers

7
Tsuneishi Shipbuilding
Fukuyama, Hiroshima
Shipbuilding
Large
Builds bulk carriers and tankers

8
Naikai Zosen
Setoda, Hiroshima
Shipbuilding
Medium
Builds chemical tankers and ferries

9
Sasaki Shipbuilding
Matsuyama, Ehime
Shipbuilding
Medium
Builds chemical tankers and product carriers

10
Shin Kurushima Dockyard
Miyakonojo, Miyazaki
Shipbuilding
Medium
Builds product and chemical tankers

11
Murakami Hide Shipbuilding
Matsuyama, Ehime
Shipbuilding
Medium
Builds chemical tankers and product carriers

12
Fukuoka Shipbuilding
Fukuoka
Shipbuilding
Medium
Builds chemical tankers and coastal vessels

13
Hakodate Dockyard
Hakodate, Hokkaido
Shipbuilding & Repair
Medium
Builds product tankers and specialized vessels

14
Hakata Shipbuilding
Fukuoka
Shipbuilding
Medium
Builds chemical and product tankers

15
Kanda Shipbuilding
Kanda, Fukuoka
Shipbuilding
Medium
Builds chemical tankers and bulk carriers

16
Miyoshi Shipbuilding
Uwajima, Ehime
Shipbuilding
Medium
Builds chemical tankers and product carriers

17
Hayashikane Shipbuilding
Shimonoseki, Yamaguchi
Shipbuilding & Repair
Medium
Builds product and chemical tankers

18
Uwajima Shipbuilding
Uwajima, Ehime
Shipbuilding
Small-Medium
Builds chemical and product tankers

19
Sanoyas Shipbuilding
Osaka
Shipbuilding
Medium
Builds bulk carriers and tankers

20
Onomichi Dockyard
Onomichi, Hiroshima
Shipbuilding
Medium
Builds bulk carriers and tankers

21
Kumamoto Shipyard
Kumamoto
Shipbuilding
Medium
Builds chemical tankers and product carriers

22
Mitsubishi Shipbuilding
Yokohama
Shipbuilding
Large
Subsidiary of MHI, focuses on shipbuilding

23
Innoshima Shipyard
Innoshima, Hiroshima
Shipbuilding
Medium
Part of Japan Marine United group

24
Hiroshima Shipyard
Hiroshima
Shipbuilding
Medium
Part of Japan Marine United group

25
Tadotsu Shipyard
Tadotsu, Kagawa
Shipbuilding
Medium
Builds product and chemical tankers

26
Mukaishima Dockyard
Mukaishima, Hiroshima
Shipbuilding & Repair
Medium
Builds chemical tankers and cargo ships

27
Shitanoe Shipbuilding
Uwajima, Ehime
Shipbuilding
Small-Medium
Builds chemical tankers

28
Mitsubishi Heavy Industries Shipyard
Nagasaki
Shipbuilding
Very Large
Primary shipyard for MHI tanker construction

29
Kawasaki Heavy Industries Sakai Works
Sakai, Osaka
Shipbuilding
Large
Major shipyard for KHI tanker construction

30
Namura Shipbuilding
Osaka
Shipbuilding
Large
Builds bulk carriers, tankers, and offshore units

This report provides a comprehensive view of the tanker industry in Japan, tracking demand, supply, and trade flows across the national value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply.

Beyond headline metrics, the study benchmarks prices, margins, and trade routes so you can see where value is created and how it moves between domestic suppliers and international partners. The analysis is designed to support strategic planning, market entry, portfolio prioritization, and risk management in the tanker landscape in Japan.

Quick navigation
Key findings

Domestic demand is shaped by both household and industrial usage, with trade flows linking local supply to imports and exports.
Pricing dynamics reflect unit values, freight costs, exchange rates, and regulatory shifts that affect sourcing decisions.
Supply depends on input availability and production efficiency, creating a distinct national cost curve.
Market concentration varies by segment, creating different competitive landscapes and entry barriers.
The 2035 outlook highlights where capacity investment and demand growth are most aligned within the country.
Report scope

The report combines market sizing with trade intelligence and price analytics for Japan. It covers both historical performance and the forward outlook to 2035, allowing you to compare cycles, structural shifts, and policy impacts.

Market size and growth in value and volume terms
Consumption structure by end-use segments
Production capacity, output, and cost dynamics
Trade flows, exporters, importers, and balances
Price benchmarks, unit values, and margin signals
Competitive context and market entry conditions
Product coverageProdcom 30112210 – Crude oil tankersProdcom 30112230 – Oil product tankersProdcom 30112250 – Chemical tankersProdcom 30112270 – Gas carriersCountry coverageCountry profile and benchmarks

This report provides a consistent view of market size, trade balance, prices, and per-capita indicators for Japan. The profile highlights demand structure and trade position, enabling benchmarking against regional and global peers.

Methodology

The analysis is built on a multi-source framework that combines official statistics, trade records, company disclosures, and expert validation. Data are standardized, reconciled, and cross-checked to ensure consistency across time series.

International trade data (exports, imports, and mirror statistics)
National production and consumption statistics
Company-level information from financial filings and public releases
Price series and unit value benchmarks
Analyst review, outlier checks, and time-series validation

All data are normalized to a common product definition and mapped to a consistent set of codes. This ensures that comparisons across time are aligned and actionable.

Forecasts to 2035

The forecast horizon extends to 2035 and is based on a structured model that links tanker demand and supply to macroeconomic indicators, trade patterns, and sector-specific drivers. The model captures both cyclical and structural factors and reflects known policy and technology shifts in Japan.

Historical baseline: 2012-2025
Forecast horizon: 2026-2035
Scenario-based sensitivity to income growth, substitution, and regulation
Capacity and investment outlook for major producing companies

Each projection is built from national historical patterns and the broader regional context, allowing the report to show where growth is concentrated and where risks are elevated.

Price analysis and trade dynamics

Prices are analyzed in detail, including export and import unit values, regional spreads, and changes in trade costs. The report highlights how seasonality, freight rates, exchange rates, and supply disruptions influence pricing and margins.

Price benchmarks by country and sub-region
Export and import unit value trends
Seasonality and calendar effects in trade flows
Price outlook to 2035 under baseline assumptions
Profiles of market participants

Key producers, exporters, and distributors are profiled with a focus on their operational scale, geographic footprint, product mix, and market positioning. This helps identify competitive pressure points, partnership opportunities, and routes to differentiation.

Business focus and production capabilities
Geographic reach and distribution networks
Cost structure and pricing strategy indicators
Compliance, certification, and sustainability context
How to use this report

Quantify domestic demand and identify the most attractive segments
Evaluate export opportunities and prioritize target destinations
Track price dynamics and protect margins
Benchmark performance against leading competitors
Build evidence-based forecasts for investment decisions

This report is designed for manufacturers, distributors, importers, wholesalers, investors, and advisors who need a clear, data-driven picture of tanker dynamics in Japan.

FAQ
What is included in the tanker market in Japan?

The market size aggregates consumption and trade data, presented in both value and volume terms.

How are the forecasts to 2035 built?

The projections combine historical trends with macroeconomic indicators, trade dynamics, and sector-specific drivers.

Does the report cover prices and margins?

Yes, it includes export and import unit values, regional spreads, and a pricing outlook to 2035.

Which benchmarks are included?

The report benchmarks market size, trade balance, prices, and per-capita indicators for Japan.

Can this report support market entry decisions?

Yes, it highlights demand hotspots, trade routes, pricing trends, and competitive context.

1. INTRODUCTION

Report Scope and Analytical Framing

Report DescriptionResearch Methodology and the Analytical FrameworkData-Driven Decisions for Your BusinessGlossary and Product-Specific Terms2. EXECUTIVE SUMMARY

Concise View of Market Direction

Key FindingsMarket TrendsStrategic ImplicationsKey Risks and Watchpoints3. DOMESTIC MARKET SIZE AND DEVELOPMENT PATH

Market Size, Growth and Scenario Framing

Market Size: Historical Data (2012-2025) and Forecast (2026-2035)Growth Outlook and Market Development Path to 2035Growth Driver DecompositionScenario Framework and Sensitivities4. CATEGORY SCOPE, DEFINITIONS AND BOUNDARIES

Commercial and Technical Scope

What Is Included and How the Market Is DefinedMarket Inclusion CriteriaProduct / Category DefinitionExclusions and BoundariesDistinction From Adjacent Products and Substitute Categories5. CATEGORY STRUCTURE, SEGMENTATION AND PRODUCT MATRIX

How the Market Splits Into Decision-Relevant Buckets

By Product Type / ConfigurationBy Application / End UseBy Customer / Buyer TypeBy Channel / Business Model / Technology PlatformSegment Attractiveness MatrixProduct Matrix and Segment Growth Logic6. DOMESTIC DEMAND, CUSTOMER AND BUYER ARCHITECTURE

Where Demand Comes From and How It Behaves

Consumption / Demand: Historical Data (2012-2025) and Forecast (2026-2035)Demand by End-Use and Buyer GroupDemand by Customer / Consumer SegmentPurchase Criteria, Switching Logic and Adoption BarriersReplacement, Replenishment and Installed-Base DynamicsFuture Demand Outlook7. DOMESTIC PRODUCTION, SUPPLY AND VALUE CHAIN

Supply Footprint and Value Capture

Production in the CountryDomestic Manufacturing FootprintCapacity, Bottlenecks and Supply RisksValue Chain Logic and Margin PoolsDistribution and Route-to-Market Structure8. IMPORTS, EXPORTS AND SOURCING STRUCTURE

Trade Flows and External Dependence

ExportsImportsTrade BalanceImport DependenceSourcing Risks and Resilience9. PRICING, PROMOTION AND COMMERCIAL MODEL

Price Formation and Revenue Logic

Domestic Price Levels and CorridorsPricing by Segment / Specification / ChannelCost Drivers and Margin LogicPromotion, Discounting and Procurement PatternsRevenue Quality and Commercial Levers10. COMPETITIVE LANDSCAPE AND PORTFOLIO POWER

Who Wins and Why

Market Structure and ConcentrationCompetitive ArchetypesSegment-by-Segment Competitive IntensityPortfolio Breadth and Product PositioningCapability MatrixStrategic Moves, Partnerships and Expansion Signals11. DOMESTIC MARKET STRUCTURE AND CHANNEL LOGIC

How the Domestic Market Works

Core Demand CentersLocal Production and Distribution RolesChannel StructureBuyer and Procurement ArchitectureRegional Imbalances Within the Country12. GROWTH PLAYBOOK AND MARKET ENTRY

Commercial Entry and Scaling Priorities

Where to PlayHow to WinDistributor / Partner / Direct Entry OptionsCapability ThresholdsEntry Risks and Mitigation13. WHERE TO PLAY NEXT: MOST ATTRACTIVE GROWTH OPPORTUNITIES

Where the Best Expansion Logic Sits

Most Attractive Product NichesMost Attractive Customer SegmentsWhite Spaces and Unsaturated OpportunitiesHigh-Margin and Underpenetrated PocketsMost Promising Product Adjacencies14. PROFILES OF MAJOR COMPANIES

Leading Players and Strategic Archetypes

Leading Manufacturers and SuppliersProduction Footprint and CapacitiesProduct Portfolio and Segment FocusPricing Positioning and Indicative Price LogicChannel / Distribution StrengthStrategic Archetypes15. METHODOLOGY, SOURCES AND DISCLAIMER

How the Report Was Built

Modeling LogicSource RegisterPublications, Regulatory and Industry ReferencesAnalytical NotesDisclaimer

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Mitsubishi Heavy Industries

Major builder of various tanker types

Imabari Shipbuilding

World’s largest shipbuilder by gross tonnage

Japan Marine United

Formed from merger of IHI Marine and Universal Shipbuilding

Oshima Shipbuilding

Specializes in bulk carriers and tankers

Mitsui E&S Holdings

Historic major shipbuilder

Kawasaki Heavy Industries

Builds LNG, LPG, and oil tankers

Tsuneishi Shipbuilding

Builds bulk carriers and tankers

Naikai Zosen

Builds chemical tankers and ferries

Sasaki Shipbuilding

Builds chemical tankers and product carriers

Shin Kurushima Dockyard

Builds product and chemical tankers

Murakami Hide Shipbuilding

Builds chemical tankers and product carriers

Fukuoka Shipbuilding

Builds chemical tankers and coastal vessels

Hakodate Dockyard

Builds product tankers and specialized vessels

Hakata Shipbuilding

Builds chemical and product tankers

Kanda Shipbuilding

Builds chemical tankers and bulk carriers

Miyoshi Shipbuilding

Builds chemical tankers and product carriers

Hayashikane Shipbuilding

Builds product and chemical tankers

Uwajima Shipbuilding

Builds chemical and product tankers

Sanoyas Shipbuilding

Builds bulk carriers and tankers

Onomichi Dockyard

Builds bulk carriers and tankers

Kumamoto Shipyard

Builds chemical tankers and product carriers

Mitsubishi Shipbuilding

Subsidiary of MHI, focuses on shipbuilding

Innoshima Shipyard

Part of Japan Marine United group

Hiroshima Shipyard

Part of Japan Marine United group

Tadotsu Shipyard

Builds product and chemical tankers

Mukaishima Dockyard

Builds chemical tankers and cargo ships

Shitanoe Shipbuilding

Builds chemical tankers

Mitsubishi Heavy Industries Shipyard

Primary shipyard for MHI tanker construction

Kawasaki Heavy Industries Sakai Works

Major shipyard for KHI tanker construction

Namura Shipbuilding

Builds bulk carriers, tankers, and offshore units

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