Tanker giants Frontline and Euronav have suggested shipowners should recycle old tonnage amid uncertain demand outlook during the coronavirus pandemic, while joining forces in commercial management can also be a good option.
With earnings of crude tankers nearing their all-time lows due to limited shipping requirements, tanker owners are widely expected to reduce tonnage supply to stay afloat.
Clarksons Research data shows one suezmax and three VLCCs have been sold for demolition since last month, including the
