Recycling sales have dwindled as cash buyers resist an attempt by some Bangladesh breakers to limit prices.
The Bangladesh Ship Breakers Association formed what some market players are calling a "cartel" in September to keep levels below $350 per ldt, when Pakistan is paying up to $37 per ldt more for old vessels.
Demolition broker Ed McIlvaney said recently that the market had been "quietish", with a limited number of sales concluded.
