Kuwait Oil Tanker Company (KOTC) has moved to kill reports it has sold a five-year-old VLCC for demolition.
Scrapping of such a young tanker for commercial reasons would have been an unusual move given today's earnings and expectations for an improving market.
The 317,000-dwt Al Yarmouk (2014-built) had been reported by shipbrokers to have been sold for recycling in India on an as-is basis in Bahrain.
