In total, 1,057 vessels were sold for scrap last year, amounting to 35.9 million dwt, or 8.8 million ldt. That included 176 tankers and combination carriers (OBOs) and 881 dry cargo and miscellaneous units.

However, around 400,000 dwt of additional tonnage that has not yet been reported may be added to the 2014 figures. McIlvaney describes the 2014 statistics as “impressive” even though they are down on 2013.