[Yo-Yo]

...VLCCs, or very large crude carriers...

Older, smaller, less efficient crude tankers will be retired a bit earlier, that's all.

Here's hoping that these new ships come equipped with a few CIWS stations.

[doosee]

This article made me think of Waterworld, where a colony of renegades lived on the ocean on a bunch of barges and ships tied together. These excess ships may come in handy yet.

[Cold Heart]

Tanker owners often find creative ways to get rid of their unwanted tonnage without a monetary loss.

[blam]

Baltic Dry Index Falls 93% As shipping Rates Plunge, Signalling Global Economic Collapse

These dry bulk shippers are running their older ships aground in Africa for scrap metal.

[Jimmy Valentine]

This happened beforein the 1970’s. Older less efficient ships went to the scrapyard, some were mothballed until the market righted itself.