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Maritime News

More VLCCs to be sold for scrap

Capesize bulkers witnessed an extended lease of life during 2017, as the recovery of the dry bulk market gave little incentive to their owners, to scrap them. The same can’t be said for the tanker counterparts, with what looks to be yet another challenging year in 2018, seemingly setting the scene towards more VLCC scrappings.

In its latest weekly report, GMS, the world’s leading cash buyer of ships said that amid the holiday season, activity in the ship demolition market settled down, as ship owners and brokers took some time off, meaning that the next few weeks are bound to be characterized by slow activity. In any case the quieter weeks are perhaps rather welcomed, given what have been a frantic few weeks of recycling activity, with much of the (recycling) focus falling on the wet and offshore sectors of late.

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