Twice as Many Tankers Scrapped in 2017

Tanker demolition activity almost doubled in 2017 following an active fourth quarter.

News ID: 77954

Date: 02 January 2018 - 09:27

According to MANA, A total of 169 tankers and combination carriers went to the breakers in 2017, equal to 13,193,150 dwt, data from demolition broker Ed McIlvaney shows.

This marks a jump from the 88 tankers of 5,297,685 dwt that were scrapped in 2016, he says.

McIlvaney notes the fourth quarter saw a “considerable increase” in the amount of wet tonnage heading for demolition.

In December alone he counts 28 tankers and OBOs of 2,382,412 dwt being scrapped.

With rates on the rise, bulker and boxship disposals showed a retreat during 2017.

McIlvaney says 786 boxships and bulkers went for scrap last year, down from 941 in 2016.