Speaking in London yesterday Lauro said consolidation decisions were mostly driven by ego, with every buyer wanting to talk about the issue.
“Nobody really wants to say, ‘ok I don’t want to be a consolidator but I think consolidation is good for the market’,” Lauro told the Capital Link conference in the city.
The Scorpio Tankers chief executive looked back at his company’s sale of its VLGC newbuildings to smaller rival Dorian LPG to illustrate his point.
