News / Ship scrapping set to hit record level this year as more panamaxes become redundant

© Koscusko

Ship scrapping appears set to hit record levels this year, according to shipbroker and services firm Clarksons.

In its latest review of the demolition market,  it says that after a slowing in the second half of 2015, ship scrapping “returned to a rapid pace” this year.

According to Clarksons, 457 vessels, with a combined deadweight of 25.8m tonnes, have been demolished this year as owners looked to “clean out” older tonnage.

“The majority of this tonnage (262 ships) has been in the bulker sector, particularly ...