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Latest From Ship Recycling
The coronavirus pandemic has impacted on transactions in both the secondhand bulker and the ship recycling markets, new data shows, with activity in these sectors substantially down year on year. Meanwhile, container freight rates have hit new highs, but tanker spot rates on transatlantic routes are below operating costs
After the overcapacity of the past decade, box shipping's supply and demand equation is coming back into balance, with lines now looking to go back to the yards to refresh their fleets
Prices paid to shipowners for their vintage tonnage are predicted to remain buoyant, with a reasonably good recycling offering expected in the coming year
A weekend of bad weather has resulted in hull damage on a CMA CGM boxship, which ran aground after breaking its tow, while a badly listing Vietnamese general cargo vessel saw its crew abandoning ship after also running aground
Container shipping is going through a boom period despite ongoing concerns over the direction of the pandemic. But instead of using the better climate to increase their fleet sizes, carriers are staying away from the yards
The volume of crude and clean products in floating storage around the world has dipped in the past week, according to the latest Lloyd’s List Intelligence data, while tanker demolition could be on course for a three-decade low in 2020
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