Gibson Tanker Market Report

Up to no good

 

Despite almost every driver being supportive, scrapping activity has continued to underperform during 2021. Gibson remains convinced that a key driver behind this is the presence of buyers willing to pay a premium price for vintage tonnage to operate in sanctioned trades. Focusing on the large tanker fleet, a significant proportion of older units sold in the past year have become involved in illicit activity. For now, the presence of these ‘dark ships’ is contributing to prolonged weakness in the freight markets, but could their time soon be up, and will they be forced to scrap in the not-too-distant future?

2021 05 28 - Up to no good

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