Figures compiled by Stelios S Landrakis of Greek brokerage Advanced Shipping & Trading show that 2.1 million deadweight of dry cargo vessels were scrapped in the first 27 days of this year.
By comparison, in the first month of 2016, bulkers totalling 4.1 million dwt left the market.
Figures from JP Morgan show that January was the busiest month for dry cargo demolition since May 2016 — and double the level of dry scrapping logged in December.
Analyst
