The dry bulk market has seen high freight rates and strong demand delaying the recycling of older ships.
Between January and August 2024, the number of recycled ships dropped 42% year on year, the second-lowest level in 16 years, Bimco said citing Clarksons data.
Bimco shipping analyst Filipe Gouveia said: “So far this year, only 45 ships have been recycled, adding up to 2.5m
