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Chart courtesy BIMCO In the first four months of 2021, the amount of oil product tanker capacity that has been sent for demolition has already reached the total amount of demolished capacity in each of 2019 and 2020 due to unfavourable freight rates. If that pace continues for the rest of the year, an 11-year record is set to be broken. This according to a report out today from BIMCO, which shows that so far this year, 10 crude oil and 38 oil product tankers have left the active trading fleet and the development in crude oil tanker demolition and that of oil product tankers continues to head ...

BIMCO: Oil product tanker demolition on track to break 11-year record May 11, 2021, by Jasmina Ovcina In the first four months of 2021, the amount of oil product tanker capacity that has been sent for demolition has already reached the total amount of demolished capacity in 2019 and 2020 respectively due to unfavorable freight rates. If that pace continues for the rest of the year, an 11-year record is set to be broken, according to BIMCO. It would then amount to 2.1% of the active oil product tanker fleet. So far this year, 10 crude oil and 38 ...

Oil product tanker demolition on track to break 11-year record In the first four months of 2021, the amount of oil product tanker capacity that has been sent for demolition has already reached the total amount of demolished capacity in each of 2019 and 2020 due to unfavourable freight rates. If that pace continues for the rest of the year, an 11-year record is set to be broken. So far this year, 10 crude oil and 38 oil product tankers have left the active trading fleet and the development in crude oil tanker demolition and that of oil product tankers continues to head in different directions....

International Seaways Reports Fourth Quarter and Full Year 2020 Results Read full article Oops! International Seaways, Inc. (NYSE: INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today reported results for the fourth quarter and full year 2020. Highlights Net loss for the twelve months ended December 31, 2020 was $5.5 million, or $0.20 per diluted share. Net loss for 2020 reflects the impact of impairments and loss on sale of vessels of $100.1 million and...