Tonnage sent to scrap yards so far this year has exceeded last year’s total already.
The amount of old ships sent for demolition this year has exceeded that for the whole of 2011, latest data from Clarkson shows.
Around 40.8m dwt has been sold for scrap in the first thirty-seven weeks of 2012 compared to the 40.6m dwt seen in the whole of 2011.
Bulkers sent for scrap so far this year have reached 24m dwt, exceeding the 23.6m dwt sent for recycling in the whole of last year.
Clarkson now estimates that total scrap volumes this year will reach 57.3m dwt, which is 40% up year-on-year.