Tankers sent for demolition have reached a three year high on the back of a combination of low freight rates and high demo prices.
In the first eight months of this year 27 ships amounting to 2.8mdwt have gone for scrap, the highest level since 2014, according to shipbroker Banchero Costa.
August saw tanker demolitions reach their highest monthly volume since May 2014, with seven ships, equivalent to 800,000-dwt scrapped.
