Ship recycling sales slump as high charter and freight rates delay demolition decisions
- Ship recycling activity has dropped sharply, with only a handful of vessels sold for demolition in recent weeks
- Just five vessels of above 10,000 dwt have been reported sold for recycling since the start of May
Disruptions in the Middle East Gulf and rerouting around the Cape of Good Hope, continue to boost charter markets and vessel demand and thus preclude the incentive to recycle
