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Tuesday, November 13, 2018

Phase-out of small tankers 5,000-49,999 dwt

When looking at the phase-out schedule for tankers 5,000 - 49,999 dwt (Table 1) we see that there are many tankers that should already have been phased out in 2003. The most likely explanation is that these tankers may be trading in non-petroleum trades or to and from countries that are not signatories to MARPOL. There may also be errors in the database.

Some 27% or some 451 of all 1660 single hull (SH) tankers are in the size range 5,000-9,999 dwt. This is a segment we normally do not focus on, but due to the relatively large number of SH tankers it contains we have taken a closer look at it.

Table 2 below is partly based on the one used by the IMO Group of Experts as a basis for analysing the consequences of phase-out. However, there are great uncertainties over both the type of hull and type of tanker (oil or other liquid products) in this segment. There is also some uncertainty as to whether all of the old vessels listed really exist, as sales for decommissioning may not have been reported. The average age of the largest of the above segments, 5,000-9,999 dwt is 18 years or some 6 years higher than all tankers above 10,000 dwt. Some 50 of these tankers were built before the 1970s and 134 in the 1970s. The total number of tankers in this segment is 792.

By using the above-mentioned database together with the LR/Fairplay database of oil and oil/chemical tankers (excluding chemical and gas), we have made the following table: