07 December 2017
An increasing trend for vessel lay-up and scrapping is evident in the current shipping climate. The weak oil market, low freight rates, and a sluggish world economy has led to the lay-up of offshore vessels, bulk carriers and container vessels. A vessel lay-up refers to the stopping of use of a ship for a certain period which can be as short as a few weeks and as long as five years or more. Reasons for deactivation vary from over-capacity with the intention of activating it again later or waiting for better scrap prices.
In this webinar Paul Hill, Regional Director, Europe & Africa and Marine Engineer at Braemar discussed trends and terminology related to vessel lay-ups as well as associated risks and reactivation.
