Market conditions are still favourable for 'old' tankers, but recent news and rumours act as a reminder that, despite a firm market, unforeseen events might yet scupper their golden twilight. For example, Fairplay has been following reports that China's ministries of communications and finance and the state trade and economy commission have explicitly forbidden the use of ships that have reached "scrapping age", and demanded that the government ensures implementation. In addition, rumours have emerged recently that Middle East Gulf (MEG) oil terminals including Saudi Arabia are talking about banning tankers over 20 years old.
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