Turkish owners seemed to dominate the market with sales as the GOKHAN KIRAN (9,594 LDT) caught everybody off guard by capturing an enormous USD 440/LT LDT
BUYER demand for ship breaking continues to accelerate among Chinese shipbreakers with rates per scrap light displacement tonnage (ldt) - being the weight of the ship - hitting pre-lunar new year levels
Former Cunard flagship The QE2 is set to be sold to the Chinese for scrap for £20 million after a bid to bring it back to the UK as a five-star floating hotel failed.
Shipping companies are demolishing their vessels at an unprecedented rate this year, hoping to eliminate some capacity to cushion the impact of a flood of newly built ships entering the market.
INDIAN shipbreakers have been forced to adhere to the United Nations Basel Convention regarding the import of hazardous wastes, reports London's Tanker Operator.