Ship recycling volumes in 2023 lowest since 2007
While there were more sales than in 2022, the total tonnage recycled fell
Tanker recycling volumes by gross tonnage declined by 81% in 2023 while the sale of bulk carriers for scrap more than doubled, according to Lloyd’s List Intelligence data. Finance restrictions in Bangladesh and Pakistan are hampering sales, while an expected increase in tonne-mile demand due to the avoidance of the Red Sea may also reduce ship recycling in the short term