Only six tankers left the market in the first months of the year

The start of 2021 saw a lull in the scrapping of tankers despite record low earnings for ships and the highest scrap prices in almost two years. Only six tankers have left the market since New Year, writes Simpson Spence Young.

Photo: PR / DHT Holdings

Rates are at a record low and scrap rices have not been higher for years, yet only a few tankers have left the market so far in January and February.

More specifically, only six tankers constituting a total of 854,000 dwt were either sold or converted to other ship types in January and February, writes SSY Research in an update. In January, a total of 49 ships were delivered at the same time, which means that the fleet grew by almost one percent in the first month of the year.

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