Ridgebury Tankers is expecting a “big year” for tanker scrapping but is less confident about the prospects for owners in the wet market securing an IPO in the US.
Chief financial officer Hew Crooks told Marine Money in London there are presently six or seven VLCCs being talked about for demolition right now.
Ridgebury bought four veteran VLCCs in a three to four year asset play project before Christmas and he notes modern assets do not have the same advantage in the tanker market as they do in other shipping and offshore arenas.
