With most ship owners adopting a wait-and-see stance, when it comes to adopting solutions ahead of the 2020 IMO rule on low-sulphur marine fuels’ use, a trend seems to be slowly, but surely emerging. As things stand, pushing towards a single, che…
The tanker markets have been seeing elevated levels of removals as weak earnings continue to push returns at or below opex levels in many markets. The number of ships that are on the water and equal to their scrap value only has increased. This is no g…
Demolition of Tankers Reaches Multi-Year Highs, as More Bulkers Remain in Service Read More »
Following some rather active start to the new year, ship owners have started to ease from committing additional funds to newbuilding contracting or second hand acquisitions. In its latest weekly report, shipbroker Allied Shipbroking noted that “it look…
Ship Owners Take A Breather From New Ship Acquisitions Read More »
In this current period of downturn, critics of offshore shipowners will say that owners have been guilty of not scrapping older tonnage in order to maintain a young and advanced fleet. Though this is justified, rewind to pre-downturn, these debt free o…
OSV YTD Scrapping Rates Increase by 153% Read More »