High prices paid by cash buyers in the demolition sector have come as a surprise, according to one scrap broker.
Ed McIlvaney said in his latest report: "As was anticipated, the improved price levels have indeed drawn a considerable increase in the number of vessels available, many of which are medium to high lightweight units."
"As ever, however, we are seeing the usual spate of somewhat speculative acquisitions being made by some of the cash buyers, which has brought a certain amount of confusion to the market."
