Chinese shipowners have begun their year-end clear-out of unwanted ships, a move that is bringing modest relief to hungry ship recyclers on the Indian subcontinent.
Six Chinese-controlled ships were reported as sold for recycling over the past week, a mix of container ships, panamax bulkers and a reefer.
While brokers expect the pace of scrapping to pick up as Chinese owners purge older tonnage from their balance sheets before the end of their financial years, indications are that they are opting to hold on to their largest ships.
