Only three ships were reported as sold for recycling over the past week, including a veteran vessel powered by what is believed to be the last Doxford marine diesel engine still in commercial use.
With the week continuing the ongoing trend of lacklustre purchasing activity in the demolition markets, the volume of ships sold for recycling during the first three months of 2023 reached a three-year low with only 80 vessels totalling 562,000-dwt sold to recyclers on the Indian subcontinent.
