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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (4108)	12/9/2019 11:54:00 AM
From: Elroy Jetson	Respond to of 13794

No one will be scrapping any tankers with shipping rates six times higher than normal since the sanctions on COSCO Dalian. Not even you'd do that. Even a very, very small 40,000 DWT tanker costs $42.5 million. Using low-sulfur bunker fuel or adding a $0.5 million amine scrubber is a non-event. Currently a tanker can pay off the costs of a scrubber with just two voyages! Do you really find a 3 month payback period cost prohibitive in your business ? ? ? Don't be a dope. As for China-owned COSCO, they can easily afford to keep their COSCO Dalian tankers idle until the Trump sanctions are resolved.