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The European Maritime Safety Administration overview of marine casualties is a quantitative analysis of data provided by EU Accident and Investigation bodies.
Scrapping activity has intensiﬁed to one of the highest levels ever noted. Freight rates have continued to remain sluggish for a prolonged period, the distressed market having already resulted in younger vessels being scrapped in 2015. Scrapping has remained high in the Indian Subcontinent region — Chittagong, Gadani Beach and Alang — as well as at Chinese yards, while demolition rates have remained at an all-time low.
Fewer ships will be ordered this year than at any point since the 1970s, according to Lloyd’s List Intelligence.
Some 1,400 vessels will be ordered, 1,000 fewer than in 2009. Measured in dwt, forecasted ordering this year is the lowest this millennium.
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