Very large crude carriers comprise 40% of scrapping candidates, followed by aframax tankers

Chief executive Aristides Pittas said the improved strength of the market for intermediate boxships was reflected in a charter extension for the company’s 5,610 teu Akinada Bridge

The facility, on the west coast of South Africa, would use a shiplift to transfer vessels into an environmentally friendly decommissioning facility rather than the beaching method, which has been heavily criticised for causing pollution

Deliveries and orders are increasing as container shipping tries to maintain a fleet at levels that will allow for growth without increasing concerns relating to overcapacity

According to the government release, the ship-breaking yard in Sachana will be modelled on the one in Alang, although industry players say lack of capacity has never been an issue and the Alang recyclers have the advantage of being better recognised

Prices in the Indian subcontinent markets have broken into $300 per ldt territory and may even climb to $400 per ldt in September, while Turkish shipbreakers are benefiting from the boost given to them by EU’s Ship Recycling Regulation. Only Chinese yards are still struggling as they cope with a double whammy of Beijing’s import ban and the pandemic crisis