London: A recent report fro UK broker Clarkson shows that Singapore is rapidly rising up the ranks in the crude and product tanker owner stakes. While Greece tops the league with nearly 25% of all tankers worldwide, Norwegian owners could be knocked out of the top five, Clarkson reported with Singaporean owners taking fifth spot, as the Singaporean orderbook now stands at 9.7m dwt, accounting for 49% of the extant fleet.

According to data from VesselsValue.com the number of tankers controlled by Singaporean interests has leapt by 43% in the past 12 months to 980 tankers.