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Ballast water systems may boost dry bulk scrapping

Carriers such as Norden, Pacific Basin, and NYK could benefit from the fact that the ballast water convention has now been ratified is set to come into force one year from now, as some carriers will opt for scrapping rather than installing the systems, notes Bloomberg in an analysis.

Photo: Modelfoto/Colourbox

The recent ratification of the ballast water convention, which is now set to come into force in September 2017, comes as good news to carriers such as NYK, K-Line, Mitsui OSK, Pan Ocean, China Cosco, Norden, and Pacific Basin.

The convention means that a long line of vessels, including dry bulk vessels, will need to install ballast water management systems. As this installation on one vessel alone can cost upwards of USD 750,000, it will for some carriers make more sense to scrap the vessels rather than installing the required systems.

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