More tankers have been sold for scrapping in 2017 so far,
and at a younger age, than the previous two years.
According to Alibra Shipping, in 2017 so far, 49 tankers
have been scrapped with an average age of 24.5 years. In 2015 and 2016 it was
27.3 and 27.4 years, respectively.
The London based shipbroker reports that a depressed
freight market and low spot rates, the lowest since 2014, has led to higher
demolitions.
The Greek market has sent the largest tonnage of tankers
for recycling. 24% of all tanker tonnage sent for demolition has been done by
the Greeks this year, compared to their contribution of 10% throughout the
whole of 2016.
Bangladesh is the favourable
location over other yards in India. Reportedly, this is because of ongoing
environmental regulations that often means fitting technologies is not worth
the cost of the ship. Instead, owners are financially better off scrapping
their ships and ordering new ones with higher energy efficiency designs and
integrated technologies.
Source: hellenic
shipping news. 18 August 2017
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