Tanker

Unemployed supertankers are about to get junked on Asia's beaches

The coronavirus pandemic is paralyzing the market for VLCC supertankers, and the result is likely to be a surge in scrapping of the large vessels on the beaches in Southeast Asia.
Photo: PR / DHT Holdings
Photo: PR / DHT Holdings
By Alex Longley and Alaric Nightingale, BLOOMBERG

Covid-19 is destroying the market for supertankers that deliver about a fifth of the world’s crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap.

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