Scrapping of vessels at historic low
The Junio Cargo Analyst Joey Daly has analysed the changes and trends in the shipping industry's demolition market, making use of data of the maritime intelligence provider Vessels Value. It is striking that the need for capacities in the container and bulker markets led to a sharp decline in demolition of these vessels. Daly said that "the eleven container vessels sold for demolition made up only 2% of the scrapped fleet."
The container market saw an 87% reduction in scrapped vessels, from 83 vessels in 2020 to eleven in 2021. A clear change can also be attributed to bulkers, where sales were down from 132 vessels in 2021, a decrease of 55%. In 2021, it was tankers that dominated the demolition market with 301 vessels sold for scrap, accounting for 59% of all cargo vessels demolished. (sh)