Quantcast
Channel: Recycling International - recycling magazine for professionals by professionals - fleet
Viewing all articles
Browse latest Browse all 6

'Frantic' scrapping of younger vessels

0
0
Top-News: 
No
Teaser Text: 
'Cash-strapped ship owners will scrap younger and younger ships this year as the dry bulk market wallows in the doldrums,' the UK's Drewry Maritime Research has stated in its latest report. A vessel as young as 15 years of age has already been sold for scrap in recent months while the average scrapping age of Chinese-built Capesizes was 21 years in 2012, it notes.

Drewry does not expect an improvement in the freight market in 2013, predicting that the number of bulk shipping companies getting into financial difficulty will only rise over the course of the year. 'Demolitions in 2013 are expected to be above 36 million dwt, more than what was seen in 2012, and the average scrapping age will fall even further as middle-aged vessels struggle to find employment,' the report elaborates.

read more


Viewing all articles
Browse latest Browse all 6

Latest Images

Trending Articles





Latest Images