The dry bulk sector could see an almost three-fold increase on the amount of tonnage scrapped last year based on early indications, says a top broker.
“We forecast total dry bulk scrapping in 2020 at 19m dwt, far above the 7m dwt scrapped in 2019 and 4m dwt in 2018, but well below the peaks around 30m dwt in 2015 and 2016,” said Joakim Hannisdahl, head of research at Cleaves Securities.
