Splash 24/7: Are ships set for shorter lifespans?

6 June 2017: ” “In a depressed market, when rates come down, it is much more difficult for owners to keep their older vessels employed and to justify the expense of taking a vessel through fourth of fifth special surveys. These later surveys tend to be more expensive since older vessels sometimes need extensive repairs, such as steel plate replacements,” says Erik Broekhuizen, head of tanker research at Poten & Partners.” To read full article, click here.