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Friday, December 15, 2017

Most sales for decommissioning occur before phase-out date

One indication that very few Category 1 tankers will come up for phase-out by April 2005 are the current very low sales for decommissioning.

INTERTANKO has recorded 6.7m dwt of tankers sold so far for decommissioning in 2004 including:

2004

Number

dwt

Average age

Less 20,000 dwt

39

361,148

28.1

20,000 - 50,000 dwt

31

998,305

27.9

50,000 - 119,999 dwt

41

2,866,359

24.3

120,000 - 199,999 dwt

12

1,645,508

25.3

VLCCs

3

1,102,219

26.0

Total

116

6,740,721

26.3

In addition, we have recorded 6 LPGs and 3 FSOs (2 above 20,000 dwt) sold for decommissioning.

Some 50 of the oil tankers sold for decommissioning were sold before their final phase-out date (37 were to be phased out in 2005), and 13 appeared to be due for phase-out before 2004. We have recorded 10 chemical tankers plus 4 chemical/oil tankers (average size 7,907 dwt) sold for decommissioning.

The overall average price has been some USD 370 per ldt in 2004, up from USD 224 per ldt in 2003 and USD 153 per ldt in 2002. During the two previous years between 19 and 20m dwt respectively were sold for decommissioning.