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Wednesday, January 17, 2018

Sales for decommissioning ahead of phase-out

INTERTANKO has recorded 162 or 15.5 m dwt of tankers and combination carriers above 5,000 dwt sold for decommissioning so far in 2003.

According to MARPOL, tankers built in 1973 and earlier are due for decommissioning/phase-out this year and 39 or 1.3 m dwt of the ships sold were built in 1973 or earlier. This means that 123 tankers or 14.2 m dwt were sold ahead of the phase-out deadline. The age distribution of the tankers sold was as follows:

Year Built

No

‘000 DWT

No

< 30 Kdwt

No

30-80 Kdwt

No

80-120 Kdwt

No

120-200 Kdwt

No

+200 Kdwt

1956

1

16

1

0

0

0

0

1961

1

8

1

0

0

0

0

1963

2

24

2

0

0

0

0

1968

5

159

4

0

1

0

0

1969

1

5

1

0

0

0

0

1970

3

66

2

1

0

0

0

1971

5

162

3

2

0

0

0

1972

10

486

7

2

0

0

1

1973

11

379

4

6

1

0

0

1974

14

708

10

1

0

1

2

1975

21

2,390

5

9

1

0

6

1976

26

4,073

5

6

3

2

10

1977

11

1,720

2

1

3

2

3

1978

13

1,733

3

4

1

3

2

1979

14

1,755

4

4

1

2

3

1980

12

851

0

6

6

0

0

1981

7

708

2

1

2

1

1

1982

2

163

0

1

1

0

0

1983

2

81

1

1

0

0

0

1984

1

52

0

1

0

0

0

Totals

162

15,539

57

46

20

11

28

The receivers of the tankers sold for decommissioning have been China (6.3 m dwt), India (4.2 m dwt), Bangladesh(3.1 m dwt), and we lack information on the balance.

The lightweight value of 2.5 m tonnes of tanker steel sold for decommissioning was some USD 519 million. Ocean Tankers Pte. has been reported to have sold the most tankers for decommissioning: 8 tankers totalling 1.1 mdwt. INTERTANKO has recorded 26 Panamanian, 19 Maltese, 15 Liberian, 12 St. Vincent & Grenada, and 11 Greek tankers sold for recycling. The figures include 7 combination carriers of some one million dwt sold for decommissioning.

The average age of all tankers sold was 27.5 years, thus 2.5 years ahead of the MARPOL phase-out deadline, but 2.5 years after the age at which MARPOL requirements for tanker over 25 years apply. Tankers below 10-30,000 dwt were on average the oldest (29.7 years) and the Panamaxes sold for recycling were the youngest (25 years). The U/VLCCs sold for decommissioning ranged in age from 22 to 31 years, an average of 27.7 years.