Tanker scrapping has fallen to its lowest level in 30 years as floating storage kept older vessels away from the demolition beaches.
Removals through scrapping and/or conversions from the combined crude and product tanker fleet in the first six months of 2020 totalled just 14 ships of 1.1m dwt, according to Simpson Spence Young (SSY).
The first-half figures are the lowest in deadweight terms since the first six months of 1990, said the shipbroker, whose data goes as far back as the late 1980s.
