SCRAP SHIPS NOW, NOT LATER SAYS SHIP RECYCLING EXPERT
June 1st, 2012
BY POORNA RODRIGO, IN LONDON
Demolition prices for older ships have fallen by a quarter in 2012, signaling a "historical drop" shipbroking, chartering and sale major Braemar Seascope's research director told Steel First. He urged ship owners to scrap elderly candidates immediately and claim its "end of life bonus" as freight market would remain weak over the next two years.
"From my own research, prices [for any type of ship recycled] peaked at about USD510 early in January 2012 and offers were down to USD400 by the end of May - though ...
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