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Auteur : Patricia Büeler
Ship recycling hits 16-year low amid high demand
Graph: Bimco
According to Filipe Gouveia, shipping analyst at Bimco, the number of recycled dry bulk ships has dropped by 42% year-on-year, the second-lowest level in 16 years, due to strong freight demand and high rates.
Only 45 ships were recycled in 2024, accounting for 2.5 million deadweight tonnes. Capesize and supramax segments experienced the sharpest declines. Fleet renewal is delayed, as just 9% of capacity is 20 years old or more.
Ship recycling is expected to rebound in the coming years as market conditions normalize and climate regulations tighten. (pb)