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Saturday, January 20, 2018

Renewal of tanker at high pace

INTERTANKO has recorded 15 VLCCs and 29 other tankers totalling 5.9 mil dwt scrapped during Jan-Feb 2002, compared to 11 VLCCs and 34 smaller tankers totalling 5.4 mil dwt delivered.  Assuming that 20 mil dwt will be scrapped in 2002, which is moderate considering the current level, the double hull tanker fleet will be 51% of the world fleet at the end of the year, up from 43% at the beginning of the year.

The average price of the VLCCs sold Jan-Feb was $133.7 per ldt. Half of them went to Bangladesh, 4 to India, 2 to China and the two largest to Pakistan. The lightest of those sold for recycling was a 357,000 tonner that had a steel-weight of 42,000 ldt. The heaviest was a ULCC of 457,150 dwt with an ldt of 66,000.

The 1970s built VLCCs sold for further trading and for recycling are:

1 VLCC built 1972, phase out end 2003

1 VLCC built 1973, phase out 2003, scrapped Jan-Feb: 1

9 VLCCs built 1974, phase out 2004, scrapped Jan-Feb: 1

20 VLCCs built 1975, phase out 2004, scrapped Jan-Feb: 6

33 VLCCs built 1976, phase out 2005, scrapped Jan-Feb: 3

17 VLCCs built 1977, phase out 2005, scrapped Jan-Feb: 4

5 VLCCs built 1978, phase out 2006, scrapped Jan-Feb: zero

8 VLCCs built 1979, phase out 2006, scrapped Jan-Feb: zero

2 VLCCs built 1980, phase out 2006, scrapped Jan-Feb: zero

Totally 96 built in the 1970s and1980 still in service 1 Jan 2002

10 VLCCs were built 1981-85.

Some 13% are left of the 697 VLCCs that were built in the 1970s and 60 VLCCs that were built in the 1960s.

Click here to find more information on scrapping and deliveries on INTERTANKO’s web site.