Aug. 30 (Bloomberg) -- Supertankers aged 15 years or older may soon be demolished because their value as scrap has risen relative to what they would fetch for continued trading, New York-based investment bank Dahlman Rose & Co. said.
Very large crude carriers, or VLCCs, are worth about $19 million as scrap while carriers built before 1996 would fetch $20 million to $25 million when sold for continued trading, shipping analyst Omar Nokta said in an e-mailed report today. That’s the highest percentage since the early 1980s and may incentivize demolitions, he said.
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