704 vessels were sold for scrap in 2021

London - 2021 saw significant trends and changes in the shipping industry with record breaking container demand, surging steel prices, and the threat of returning lockdowns as new Covid-19 variants emerged. READ FULL REPORT

London - 2021 saw significant trends and changes in the shipping industry with record breaking container demand, surging steel prices, and the threat of returning lockdowns as new Covid-19 variants emerged. These factors have combined to result in a diverse demolition market. Last year saw 704 vessels sold for scrap overall, with a combined DWT of 26.4 mil and a total scrap value of USD 2.7 bil. Scrapyards have stayed busy with the total number of vessels sent for demolition climbing by 20% since 2020, and 26% since 2019, when 583 and 558 vessels were scrapped respectively.

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