News / Scrapyards set for new wave of box ship demolition as idle fleet grows

© Bayazid Akter

Demolition markets in the Indian subcontinent have now largely reopened and are preparing for a new wave of containerships for scrapping.

According to London-based shipbroker Braemar ACM, just 14 have been demolished so far this year, compared with 58 ships by the same time in 2019.

However, due to the pandemic, there have been reports of up to 20 ships having been sold for scrap in the interim and now await the cutting tools.

Scrapping rates have slumped by around 25% since January, ...