Abandon ship: Oil tanker scrappage to hit multi-year high as earnings sink

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Abandon ship: Oil tanker scrappage to hit multi-year high as earnings sink

04 June 2018, News Wires – The shipping industry will this year scrap the largest number of oil tankers in over half-a-decade, driven by weak earnings, firm prices for scrap steel and the need to prepare fleets for strict new environmental regulations. The surge in scrapping underscores how the sector is grappling with one of its …

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