Throughout the summer and well into September, observers have been describing the demolition market in downcast terms as “subdued”, “challenging”, “soft” or “under pressure”.
Never too late to catch up on a trend, Greek owners sold just six ships for scrap between the end of May and late September, highlighting the dire state the demolition market was in.
Two tankers previously owned by Greeks, however, have been reported sold over the past 10 days, offering tentative signs that the scene is coming back to life.
