Dry bulk ships scrapped younger to cut capacity

By Wayne Yamada
Published: Thursday, 24 December 2015

The age at which vessels are being scrapped is declining as shipowners attempt to rebalance the oversupplied freight market.

The age at which dry bulk vessels are being scrapped has fallen over the last few years, which may help rebalance a shipping market currently groaning under the weight of overcapacity.

According to shipping association Bimco, the average age of a ship scrapped in 2013 was 28.2 years. In 2014 this had...

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