Elderly vessels are selling for previously "unthinkable" scrap prices as deliveries continue despite lockdowns and oxygen shortages in India and elsewhere.
Recycling end users are paying upwards of $550 per ldt for tankers and bulkers — up from $535 per ldt towards the end of April.
The 41,000-dwt handysize bulker Vika (built 1998) — owned by Vlad Shipping of Belize — was reported sold into Pakistan at this higher level.
