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Ship scrapping plunges to 11-year low

Prices paid for vessels by recycling yards this year declined by as much as 25% — or about $100 per light displacement tonne — by mid-2019 to about $300

The prices being offered to shipowners for scrap has been consistently low throughout 2019. This has coincided with the build-up to the IMO 2020 rules. Poor prices and a changing shipping backdrop have led to a noticably low annual scrapping figure

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