Nearly one in five supertankers are currently inactive

Nearly one in five VLCCs are currently inactive, either because they function as floating storage or due to congestion in ports. So why are freight rates so low, if a large part of the global fleet is idle? Clarksons Platou calls it worrisome.

BY TOMAS KRISTIANSEN

Published: 28.08.20 at 15:17

18.3 percent of the global VLCC fleet, or nearly one in five of the large supertankers, are currently inactive, reveals a calculation made by Clarksons Platou.

It is largely a combination of the number of vessels that continue to function as floating storage and congestion in ports around the world that has led to a significant part of the global fleet being inactive.