Premium Archive

May 26th 2017 Friday Big Picture Report

SOx and BWTS regulations Our scrap forecast explained

Last week’s scrap forecast, in which we calculated the extent to which regulations on ballast water and SOx would advance the retirement date of older vessels, was aggressive. As it turns out, a misreporting of our ‘old’ scrap estimate (which made it appear higher than it was) makes our new scrap forecast look more aggressive still. Understandably the numbers have generated a wave of questions from clients who want to understand the assumptions that underpin it. So here goes.