World News
Tanker Demolition Drops to 23-Year Low
Thursday December 3, 2020
The number of tankers scrapped this year is set to reach the lowest level in 23 years, according to shipping intelligence service Alphatanker.
By the end of this year just 24 tankers are likely to have been demolished, Alphatanker said in an emailed newsletter, the lowest level since 1997.
In deadweight tonnes this year's current rate is 64% and 93% lower than in 2019 and 2018, respectively.
"Looking forward, we expect that tanker demolition will experience a steady rebound in 2021," Alphatanker said.
"However, given the more positive outlook for the tanker market in the second half of the year, we do not expect it to be a renaissance such as experienced during 2018."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
Popular Now More
-
Nov 26The company has hired Mike Parrent, formerly marketing manager for Bomin before its acquisition by Minerva Bunkering earlier this year, as its new physical desk manager in Houston. -
Nov 26The new hire previously worked as a bunker trader for IBT Bunkering & Trading in Hamburg. -
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer.