Question · Q2 2025
Daniella DeLorenzo from Shipping Watch asked how the company factors the 'shadow fleet' into its scrapping forecasts and what its resulting impact is on tanker market supply and demand.
Answer
CEO Alexander Saverys responded that while the company hopes the shadow fleet disappears due to its illegal trade and poor maintenance, it is realistic that this will not happen overnight. He noted that the increasing difficulty of operating these aging, sanctioned vessels works to the advantage of the legitimate market, but the company is not counting on their rapid removal from service.
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