Braemar: Banks slow down VLCC scrapping

The VLCC fleet needs to be reduced in order to improve the market, but the banks are slowing down the scrapping rate of ships, as they stand to lose money from it, says Braemar Seascope Director of Research, Mark Williams, in an interview with ShippingWatch.


It is not so much the supertanker owners alone as it is the banks who are sustaining an extremely difficult VLCC market plagued by a massive oversupply of tonnage.

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