ShippingWatch

Tanker scrapping on the rise as carriers await rally

636 ships were sold for scrapping in 2021, an increase of 15 percent compared to the year before, reveal figures by VesselsValue. Tanker operators spearheaded demolitions.

Scrapping in Alang, India. | Photo: PR / Maersk

The strained tanker market is probably one of the factors explaining why tanker carriers cleaned up their fleets and sold more than two and a half times as many tankers for scrapping compared to the previous year, reveal data on 2021’s shipbreaking provided by VesselsValue on behalf of ShippingWatch.

In 2021, shipping lines and shipowners sent 636 ships with a scrapping value of USD 2.7bn and a total of 5.1 million light displacement tonnage (LDT) for demolition.

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