Ship scrapping could swing into the foray during the first weeks of 2011

As the dry bulk market is looking to end the year on a low note, in fact the lowest in almost a year, ship owners could very well be looking to offload their older carriers to scrapyards around the world. With scrap prices holding firm and buying interest still remaining high, it seems that the wise thing to do right now would be to sell some of the older carriers for demolition. These are vessels which are currently facing stricter controls and rules – not to mention port inspections – especially when their owners are looking to trade them in European ports. At the same time they have returned their purchase values more than once throughout the years, making the decision to decomission them an easier one.
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Source: Hellenic Shipping News