The lack of ship recycling in the tanker market has given the prevailing headwinds and low freight rates. low tanker rates induce owners to send their older tonnage to the scrapyard. low freight rates (below $ 25,000 per day), reports Offshore Energy.
Dual-fuel liquefied natural gas (LNG) engines“Many analysts believe that older tonnage has instead been used for “illicit trade” that has developed around Iranian and Venezuelan sanctioned cargoes. The vessels undertaking this trade have been...
https://mfame.guru/euronav-shocked-by-lack-of-tanker-recycling/