The average age of demolished crude oil tankers hits 21 – not much room left for demolition balancing the market!
22 May 2012Crude oil tanker tonnage in the size range from Aframax to VLCC is now recycled at the age of just 21, a level not seen since 1995. The poor freight market now increasingly impacts the segment of more mature tankers, effectively reducing the room for more demolition to balance the market.