Price and green yard capacity seen as key to imminent scrapping wave

Shipowners will face continued questions about pricing levels and green recycling yard capacity as the industry braces for a flood of unwanted ships in the coming years.

Panellists at the TradeWinds Ship Recycling Forum pulled no punches in debating the constant tension between profit and sustainability in the scrapping sector.

Prashant Widge, head of responsible ship recycling at Denmark's containership giant AP Moller-Maersk, said demolition volumes are expected to nearly quadruple over the next 12 years.