Global bulker scrapping totalled 185 vessels in the first four months of 2012, small-and-medium size secondhand ships' scrapping has reached record amount.
According to Clarksons, during the same period, 20 capesize bulkers (over 100,000 dwt), 43 panamaxes (60,000-99,999), 36 handymaxes (40,000-59,999) and 86 handysizes (10,000-39,999) headed for scrap yards.
Plummeted freight rates in every size with high scrap price at near $500/ldt have led owners to sell old vessels for demolition.