The world's largest oil tankers are being ordered at a record pace: There are currently 262 supertankers on order at shipyards worldwide, the highest number on record. This marks an over +1,000% surge from the levels seen just 2 years ago. Each of these vessels can carry up to 2 million barrels of crude oil. This also exceeds the previous record of ~255 supertankers set in October 2008, which ultimately flooded the market with too many ships, causing the daily rates shipowners charge to crash and tanker company revenues to collapse. Shipowners are rushing to capitalize on historic supply chain disruptions.(The Kobeissi Letter)