Year

Event

1973-1975

Fall in global oil consumption

1976

Recovery

1979; 1981

Fall

1973

Orders peaked, 200 m dwt

1981

Orders fell to 20 m dwt

1980-1983

Crude oil trade fell by 20%

1964-1983

Petroleum products rose by 49%; 124% to 334 m tons

1983-1988

Greek shipowners naturally turned to product carriers for the 1st time