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Oil circus brings hope

Nearly 70% of all ship sales that took place during this super quiet month were vintage VLCCs

The Global Lockdown has put the brakes on secondhand purchases. It’s not just that shipowners want to hold on to their cash in this economically uncertain period, it’s the difficulties of sealing a deal in these quarantined times – how to inspect a ship, how to get crew in place? As a result April has been one of the most quiet months on record for concluded ship sales. Indeed for dry bulk this has been the quietest month since July 1990.

Brokers have been advised by the International Transp...

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