Ship scrapping on the rise  

Due to the rise in steel prices, more and more ships are being given up for demolition worldwide. Over the course of a year, the price of light displacement tonnes (ldt), i.e. empty ships without supplies, fuel, etc., has almost doubled. Pakistani demolishers are said to have paid 580 dollars per container ship ldt. The previous high of 600 dollars per ldt is expected to be broken very soon. According to Lloyd's List Intelligence, 134 ships with a deadweight tonnage of over 10,000 tdw went to demolishers in the first half of 2021, primarily in Southeast Asia. This is 15 per cent more than in the first six months of the previous year.

To the subscriptions