Ship recycling pricing continues to fall on low steel demand
- Average pricing levels are down by $100 per light displacement tonne year on year
- Only three ships were reported as sold for recycling in the past week as the Hong Kong Convention finally entered into force
- Supply of ships expected to remain low as shipping markets stay strong
With the Hong Kong Convention having entered into force, those few shipowners selling ships for recycling will need to ensure Inventory of Hazardous Materials documentation is timed with the arrival of the vessel at the shipbreaking yard
