From the Editor’s desk

摘要

The ongoing lull in scrapping activity in the crude tanker market is a worrying sign, which is struggling with overcapacity. Moreover, a sharp decline in vessel earnings in 2H20 has also failed to rekindle demolitions. Only one VLCC has been scrapped since the beginning of 2019, while 104 new VLCCs have been delivered during this period, inflating tonnage supply.