Demolition of tankers with ages around 15-year-old could prompt recovery in tanker shipping market by 2014 or 2015, Braemar Seascope forecast.
Research director Mark Williams said active scrapping would pick the Baltic Dirty Tanker Index back up to 1,200 by 2014 or 2015, Bloomberg reported.
The figure compares to numbers below 700 in recent days.
Recently Japan's MOL sold the 267,534-dwt VLCC Rion (built 1998) for scrap at $498 per ldt.