Indian shipbreakers have been enjoying an unusually busy monsoon season as their investments in green recycling facilities start to pay off.
Data from cash buyer Best Oasis showed they acquired about 774,000 ldt of vessels between June and August, up a whopping 94% from 398,000 ldt in the same period of 2019.
The pent-up demand following a quiet second quarter turned Indian breaking facilities into “busy bees”, Bimco chief shipping analyst Peter Sand told TradeWinds.
