Tanker

Scrapping of old tankers reach 30-year low

Over-production and muted demand for oil now result in older tanker vessels seeing the lifespan extended as floating oil storages, according to a new analysis from broker SSY.
Old tanker vessels live longer because they are being used as floating oil storages. | Photo: Colourbox / arkivfoto
Old tanker vessels live longer because they are being used as floating oil storages. | Photo: Colourbox / arkivfoto
by DAG HOLMSTAD

Just 14 tanker vessels of at least 10,000 dwt were scrapped or converted into other types of ships in the first half of 2020.

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