Tanker demolition hit the highest level since 1982 during the first quarter of 2018 but will require “one heck of heck of a scrapping environment” for crude owners to return to profit in the near term, Evercore ISI says.
Analyst Jon Chappell counts 7.94 million deadweight tons of tankers sent to the breakers in the first three months of this year, the second highest on record.
