Tanker Demolition Drops To Record-breaking Low

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  • 24 tankers likely to have been demolished by the end of the year.
  • The lowest level since 1997.

The number of tankers scrapped this year is set to reach the lowest level in 23 years, according to an article published in Ship & Bunker.

Comparison with other years

In deadweight tonnes this year’s current rate is 64% and 93% lower than in 2019 and 2018, respectively.

Looking forward, we expect that tanker demolition will experience a steady rebound in 2021,” shipping intelligence service Alphatanker said.

However, given the more positive outlook for the tanker market in the second half of the year, we do not expect it to be a renaissance such as experienced during 2018.”

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Source: Ship&Bunker

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