Tanker scrapping gathering pace

Tanker scrapping gathering pace

Tanker scrapping gathering pace

Supertanker owners are scrapping vessels at the fastest pace since the 1980s, reports have quoted one of the world’s biggest buyers of end-of-life ships for scrap as saying.

Besides, Morgan Stanley has estimated that the global VLCC fleet could lack 100 million barrels of transportation capacity by late 2020, reports added.

Manjula

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