Latest / Wavelength Plus: A podcast by TradeWinds
In conversation: Anil Sharma, chief eecutive and founder of cash buyer GMS
The dark fleet of sanctioned vessels which transport Russian, Venezuelan and Iranian crude above a given price cap are largely old and pooröy maintained.They are due for scrapping but no cash buyer operating in US dollars wants to touch these vessels, and the reputabe yards will not either.Many yards in India have spent a lot of money in recent years to be come compliant with the standards of the Hong Kong Ship Recycling Conventionwhich is now in place, but a good shipping market has meant very little tonnage has been scrapped (owners want to keep their vessels while the sun is shippingand…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.