Scrapping – Is There a Shortage of Capacity?

As the world fleet ages, and especially as the supertankers built during the 1970′s approach retirement age, some observers of the maritime industry are wondering who’ll scrap them.

While hardly any VLCCs have been scrapped in recent years, some industry experts are anticipating there will be a need to dispose of dozens of them each year by 1994.

The need to scrap ships to keep capacity down will become more urgent as the large number of vessels currently under construction or on order are completed.

The International Maritime Industries Forum, based in London, is concerned enough about the dwindling size of the world’s breaking industry that it is planning a mini-summit conference on the topic in the Far East later this year.

This is only an excerpt of Scrapping – Is There a Shortage of Capacity?

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