Demolition activity picks up, with owners trying to alleviate tonnage oversupply burdens

Fri, 3 Feb 2012 00:00:24 GMT

As long as freight rates are plummeting and oversupply issues are on the forefront, ship owners are expected to hasten the scrapping of older vessels, in order to make room for the new ones, which currently are flooding the market. In an indication of the dreadful state of the dry bulk market in particular, yesterday, the BDI (Baltic Dry Index) reached another record low, ending at just 651 points...

Hellenic Shipping News Worldwide, Demolition activity picks up, with owners trying to alleviate tonnage oversupply burdens

Demolition activity picks up, with owners trying to alleviate tonnage oversupply burdens