The world fleet in January 2013 consists of 42 per cent dry-bulk tonnage (in dwt) a historical record for this vessel type-general-cargo tonnage on the other hand continued its decline its share of the word total is now less than 5 per cent down from a 15 per cent share 20 years ago. Oil tankers too saw their share decline from almost half of the world tonnage in 1980 to 30 per cent in January 2013 (table 2.1 and annex ll).
Oil tankers
Following heavy scrapping and conversions of single-hull ships in recent years most oil tankers are now double hulled in compliance with relevant IMO environmental and safety regulations as the oil pollution act of the United States of America which phased out single-hull tankers from United States waters in 2010. After the renovation of the fleet today only 14 per cent of tanker tonnage is 15 years or older.
When the last single-hulled very large crude carrier (VLCC) was delivered in 1996 there were 376 in service. IN early 2013 there are only three. Only 243 however were actually scrapped. Sixty were converted into floating oil production and storage facilities and 70 were converted into dry-bulk carriers. Some of the older VLCCs are deployed as FPSOs (Shipping Intelligence Weekly 2013).