Over the past eight quarters, ship recycling rates for bulkers, tankers, and container ships have plummeted to their lowest levels in two decades. A combination of factors, including strong market demand, low order books, and ongoing geopolitical tensions, has led to a prolonged period of minimal ship dismantling activity.
Factors Driving Low Ship Recycling Rates:
- Strong demand following market shocks, such as sanctions on Russian exports and changes in consumer behaviour during the COVID-19...
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