Sanctioned ships make up 58% of tanker scrapping deals this year

AI Summary

Sanctioned ships are making up 58% of all tanker scrapping deals in 2026 despite strong freight conditions keeping overall demolition near historic lows. Clarksons Research reports that 26 sanctioned vessels totaling 2.1 million dwt have been sold for recycling, with tankers representing the majority of these sales.

Sanctioned ships are accounting for an extraordinary share of this year’s tanker recycling market, even as strong freight conditions keep overall demolition activity near historic lows. Clarksons Research reports that 26 sanctioned vessels totalling 2.1m dwt have been sold for recycling so far in 2026, including 22 tankers of 1.8m dwt. Those 22 ships represent …