A new report from broker Braemar suggests mainstream tanker charterers might relax their ‘under 20’ rule over the coming couple of years as rates remain heightened and the tanker fleet ages to levels not experienced this century. Braemar analysis shows a full 18% of the world tanker capacity is likely to be over 19 years old in 2025. Almost all tankers hitting 20 these days are undergoing a life-extending fourth special survey with many opting for a fifth survey too at 25, a trend that has been in step with the growth of the so-called shadow fleet in the 2020s. “The dark fleet of sanction-busting, uninsured tankers remains an environmental and political cause of anxiety but is surely responsible in part for the improved conditions in the legitimate tanker freight markets,” stated the most recent tanker market report from sister publication, Splash Extra. “There is the possibility that mainstream charterers could, under certain circumstances, tap into the CAP 1-rated fleet over 19 years old,” Braemar suggested. “With so little growth expected in the capacity of modern-eco tonnage this year and next (for VLCCs especially), this ‘under 20’ rule could come with increasing exceptions.” googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsUnited Kingdom