Ship Scrapping on the Rise Says Report

Ship-breaking has hit a ten-year high with a total of 952 vessels of 29.88 million dwt being sold for scrap last year. In 2008, about 377 ships of 13.23 million dwt were sent for scrapping, according to a report by Clarkson Research Services. The ships sold last year include 2

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Ship-breaking has hit a ten-year high with a total of 952 vessels of 29.88 million dwt being sold for scrap last year.

In 2008, about 377 ships of 13.23 million dwt were sent for scrapping, according to a report by Clarkson Research Services.

The ships sold last year include 246 bulkers, 188 tankers, 180 containerships and 27 gas carriers.

The report said the amount of old vessels going to scrap yards in 2010 will surpass 60 million dwt, double the figure of 2009.

A slump in shipping and high maintenance has forced some shipowners to cut their fleet. They have also been impacted by an operation ban of superannuated single-hulled tankers.