Average industry fleet age is slightly more than 13 years while M&G vessels fleet age is approx 10 years (from AR - Given that the vessel disposed during the financial year was the oldest vessel in the fleet and that the vessel to be acquired is less than three (3) years old, these transactions have reduced the average age of the fleet from 10.6 years to 9.8 years as at the financial year end). Demand for M&G's fleet will be strong and charter rates should be decent due to lack of younger fleet out there :) https://www.spglobal.com/commodity-insights/en/news-research/latest-news/crude-oil/082624-aging-tanker-fleet-1-2-fleet-growth-mean-fewer-freight-discounts-on-older-ships