Bloomberg: Oil Tanker Owners Are Scrapping the Most Ships in Decades

Abdullah Alazzaz

August 1, 2018: “A scrubber and a new ballast water system cost $5 million to $6 million combined, according to Poten & Partners. On top of that, mandatory surveys when ships are 15 years and 17 1/2 years old cost $4 million to $5 million. With scrap steel prices surging, it’s little wonder there’s been a pick up in demolition.”

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