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Wednesday, December 13, 2017

Record prices, the highest contracting since 1973 and a record tanker orderbook

 

Today we are witnessing record prices, the highest contracting since 1973 and a record tanker orderbook of some 125 m dwt. Sales for demolition on the other hand are record low - so far we have only recorded 3.4 m dwt above 10,000 dwt sold for decommissioning. The sale of product tankers has been relatively high and we have recorded 45 tankers 20,000 - 50,000 dwt sold for decommissioning, plus 8 panamaxes and 12 aframaxes (no suezmaxes or VLCCs). In addition we have recorded 1.9 m dwt sold for conversion to offshore facilities, 7 VLCCs, 6 suezmaxes and 3 aframaxes.

 

Details of the sales for demolition and conversion can be viewed here.

 

2006

Number

dwt

Aver. Built

Average age

Average price

Less 20,000 dwt

39

234,784

1975

31

376

20,000-50,000 dwt

45

1,473,604

1976

30

416

50,000 -79,999 dwt

8

551,097

1981

26

413

80,000 -119,999 dwt

12

1,097,455

1981

26

366

120,000-199,999 dwt

0

0

 

0

395

VLCCs

0

0

 

0

395

Total above 10,000 dwt

79

3,356,940

1977

29

395

Conversion not incl

3

1,916,271

 

OBOS (included above)

4

306,315

 

Total below 10,000dwt

25

111,613

 

 

Sales for decommissioning plus conversion of some 6 m dwt will mean that the fleet will increase by some 21 m dwt this year. Next year 4.5 m dwt is scheduled for phase-out and 28.6 m dwt for deliveries, which may mean that the fleet will increase somewhat more. In 2008 3.5 m dwt is scheduled for phase-out and 28.1 m dwt scheduled for delivery, according to Clarkson. In 2009 deliveries will be some 40 m dwt.

 

Contact: Erik Ranheim