Average scrap prices in the world has slightly dropped in November and total number of scrapping vessels traded also declined.
According to Cnship Net, during last month, a total of 84 scrapping vessels of a combined 4.58m dwt were contracted, which decreased by 6.7% in numerical terms and 3.5% in dwt terms month-on-month, respectively.
Also, average age of scrap ship rose by 0.1% on the previous month to 25.6 years.
Recycle facilities in China, India, Bangladeshi and Pakistan bought overall 0.58m dwt, 2.2m dwt, 0.34m dwt and 0.11m dwt, respectively.
Meanwhile, a total of 5.4m dwt headed towards scrapping facilities in November, including 1.7m dwt tankers, 2.9m dwt bulkers over 10,000-dwt.
Facilities in China, India, Bangladesh and Pakistan scrapped overall 0.8m dwt, 3m dwt, 0.6m dwt and 0.5m dwt, each.