Conditions are ripe for the emergence of a new wave of unregulated ship recyclers to dismantle vessels hit by sanctions, according to industry experts.
These “untouchable” ships, shunned by mainstream recycling yards, may find a home in unauthorised facilities operating outside the oversight of G7 sanctions enforcement, industry players warned.
Although they account for only a small fraction of global tonnage, the emergence of these breakers would parallel the growth of shadow fleets.
