Scrap buyer warns of potential "deluge" of decommissioned ships

There are signs that shipping companies will wait until the last possible moment to scrap their old, unprofitable ships once the new sulfur cap takes effect. This could prompt a flood wave of old vessels being sent to scrapyards, projects GMS.

Photo: Ajit Solanki/AP/Ritzau Scanpix

The world's largest buyer of end-of-life ships, GMS, warns that a deluge of old ships could be headed for South Asian beaches.

In its latest weekly report, GMS points out that many owners will probably want to get rid of their old, ineffectual ships once the new sulfur regulations come into force at the turn of the year.

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