Ship recycling volumes descend with candidates in short supply

Despite relatively strong prices being offered by ship recyclers, few shipowners are willing to scrap their old ships during a period of strong freight markets, writes Rob Wilmington of Lloyd's List

Ship recycling volumes in the first five months of 2024 were some 32 per cent lower than during the same period in 2023, as few shipowners are tempted to recycle their vessels despite the relatively high pricing on offer.