VLGC scrapping is being limited by a “rogue” fleet of elderly vessels trading in sanctioned Iranian gas, according to Norwegian shipowner Avance Gas.
Executive chairman Oystein Kalleklev told a conference call that a big chunk of the large gas carrier fleet is approaching retirement.
Already, 31 vessels are past 25 years of age, he said, and 18 are between 20 and 25 years.
