Freight bonanza and demand for secondhand tonnage stifle demolition market
Record high freight rates in container and dry bulk markets combined with secondhand tonnage demand in tankers have shrunk the number of ships being sold for demolition
Around 7.9m dwt of crude and product tankers, 287,974 dwt of containerships and 6.2m dwt dry bulk carriers have been recycled so far this year, according to Lloyd’s List Intelligence data