Since the end of H1, there have been 163 cargo vessels sold for demolition, a 4.5% increase on the same period in 2020 when 145 vessels were scrapped, and a 63% increase from 2019 when only 100 vessels were scrapped. These vessels had a combined DWT of 6.3 mil and a minimum combined scrap value of over USD 825 mil.
57 of these vessels were acquired by buyers in Bangladesh, constituting over a third (35%) of all vessels sold. A total of 49 vessels were sent for demolition in India, constituting...