Greeks Scrapped Most Bulkers in 2015

Greek shipowners have been the most active in scrapping of dry bulk tonnage this year, according to the data provided by VesselsValue.

A total of 4,984,500 DWT was sent for scrap by Greek shipowners, equaling to 54 vessels, out of which 20 were Capesizes, 18 Handies and 16 Panamaxes.

Greece is followed by China in the second place with 4,025,500 DWT sent for demolition or 71 bulk carriers. Chinese owners dismantled somewhat smaller vessels than their counterparts in Greece, with only 7 Capesizes, followed by 29 Handies, 17 Handymaxes, 17 Panamaxes and 1 Postpanamax.

Owners from Singapore have been the third busiest nation with respect to disposing of older tonnage, recording 1,460,000 DWT. This equals to a total of 11 bulk carriers, 7 Capesizes, 3 Handies and 1 Panamax that were sent for dismantling.

The 2015 has been a very busy year with respect to dry bulk demolition activity, with the monthly average for the first six months in 2015 standing at 3.3m DWT.

The preliminary amount of dry bulk tonnage being demolished during the first half of 2015 is 20 million DWT, according to BIMCO’s data.

Chief Shipping Analyst at BIMCO, Peter Sand, says: “As the year progresses, BIMCO expects the demand side to get stronger in connecting with rising volumes.  This should positively impact the market conditions but at the same time also limit the demolition activity.

In line with our recent adjustment of expectations for demolition activity in 2015, we do not see a new record year in spite of the strong start of the year.”

World Maritime News Staff

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