Chinese Yards Scrapping More Ships

Jiangyin City in China, has received 89 vessels for scrapping, its highest volume so far this year.

The vessels, which represent a total volume of 800,000ldt, will be scrapped at the city’s two main yards, bairdmaritime said.

Chinese scrapping yards are believed to have broken nearly 1.5 million light displacement tons of ships in the first six months of 2009, accounting for more than the combined ship breaking volume of the past four years.

Jiangyin yards have completed the shipbreaking of half of the total ships received for scrapping.