Bimco's chief shipping analyst believes at least 10m dwt of crude tankers must be scrapped to counteract the effect of vessel deliveries.
Peter Sand told the TradeWinds Tanker Shipping Forum that the shipowners' organisation is in the "relatively bearish category for crude tanker demolition".
Sand does not expect a "huge flurry" of sales to breakers this year, but deals could still reach a three-year high.
