The United Nations Development Programme (UNDP) signed an agreement with tanker owner EURONAV Luxemburg to buy a very large crude carrier (VLCC), as part of the UN-coordinated operation to remove more than one million barrels of oil from a decaying tanker off Yemen’s Red Sea coast. The new vessel to
Westwood says offshore rig scrapping is at its lowest level in years, as the offshore drilling market’s recovery intensifies.
