New Tanker Mothballed, First Since 1980s
According to a report from Bloomberg, a shipowner will mothball a newly built tanker for the first time since the 1980s as a glut of the ships erodes earnings. The aframax tanker, capable of carrying about 600,000 barrels of crude, will be sent to a natural harbor in Malaysia,. Wilhelmsen Ship Management will oversee the deactivation.