Some ship recycling yards have come under fire from cash buyers and brokers angered at what they see as an unwillingness to honour agreements as recycling prices collapse.
End-users have been accused of pulling out of purchases to talk down levels already $100 per ldt below their peak earlier this year.
The world’s leading cash buyer, Global Marketing Systems (GMS), said the ongoing sub-continent fall in prices had “fully materialised” towards the end of May.
