Freight Downturn and Bulk Carrier Deliveries: Impact on Ship Demolition

The bulk carrier market faces weak demand and excess fleet growth in 2025.
The average vessel age has reached a high of 12.5 years, increasing potential for scrapping.
Secondhand vessel prices are expected to decline, narrowing the premium over scrap value.
Scrap prices are under pressure due to low steel margins, Chinese imports, and weak demand.
Increased vessel scrapping could lower offered scrap prices further.

With the projected increase in bulk carrier deliveries for 2025 and the current...