VLCC scrapping continues at pace, with a clear statement Pakistan is ready to open its doors to tankers after 14 months on the sidelines offering further encouragement to the market.
Polembros Shipping and Hyundai Merchant Marine (HMM) are the latest to send VLCCs to the breakers, with rates at five-year lows.
Polembros is understood to have sold the 300,000-dwt Greek Warrior (built 2000), its last VLCC, for scrap at $442 per ldt, or $17.2m.
