Shipowners have finally been sending more aged tankers to scrap yards in recent weeks following quarters of limited scrapping, according to brokers and industry databases.
The development is expected to be welcomed by tanker bulls, as many industry experts believe that freight markets will only enjoy a sustainable recovery when more demolition occurs.
“Demolition activity has been brisk in the last few weeks for pretty much all vessel types,” Banchero Costa research head Ralph Leszczynski told TradeWinds.
