Under the EU Ship Recycling Regulation (SRR), vessels flagged in EU countries will have to be scrapped at EU-approved yards beginning next January.

Vessel deliveries typically slow down towards the end of the year. If shipowners wait a few weeks, allowing the delivery to slip into the new year, the vessel is considered a whole year younger. Many sectors can expect a higher proportion of the orderbook to hit the water in future years.

Over the past few days, there has been a resurgence of tanker ordering activity.