Global scrapping to grow
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.
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