The demolition market for large bulkers has picked up amid dismal rate environments this year, but several industry players believe the trend will be short-lived — curtailed by a dearth of cash buyers, crew restrictions in South Asian breaking nations, and the potential for a market recovery.
VesselsValue data shows four VLOCs and nine capesizes have been sold for recycling to date this year, compared with just two VLOCs in December, and one VLOC and four capesizes in the same period last year.
