Quote from Editor on 3 February 2021, 09:27
Shipowner Charterer: "It is definitely a cycle that needs to be broken, not just with sub-standard ships, but also government-funded carriers that do not recognize market value.
With sub-standard ships, I think this has to come from flag states to govern and maintain standards. The age of a vessel does not always matter as much as the condition she is kept in. As long as there is a certain leniency in place, or people choose to close one eye, the cycle will keep perpetuating itself."