Looming environmental regulations are pushing many shipowners to consider scrapping, according to a UBS survey.
The increasingly likely candidates for scrapping appear to be vessel 15 years or older as a result of new ballast water and emissions rules.
Based on an online survey of owners and other shipping executives, UBS analyst Spiro Dounis says about half of respondents expect to scrap vessels between 15 and 25 years old rather than spend on retrofits, including ballast treatment gear and sulphur scrubbers.
Dounis
