New Tanker Mothballed, First Since 1980s

Tuesday, September 27, 2011

According to a report from Bloomberg, a shipowner will mothball a newly built tanker for the first time since the 1980s as a glut of the ships erodes earnings. The aframax tanker, capable of carrying about 600,000 barrels of crude, will be sent to a natural harbor in Malaysia,. Wilhelmsen Ship Management will oversee the deactivation.

Source: Bloomberg
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