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Industry Note No. 4 - Demolitions Up, Floating Storage Down....For Now pdf

The tanker demolition market has picked up the pace in 2018, following a period of below average deletions due to favorable market conditions and younger fleet profiles. From our analysis, one market factor does not drive tanker demolitions, but rather a confluence of factors such as an aging fleet, depressed freight rates, higher steel scrap prices and regulatory constraints, but also micro considerations from owners.