A “tense stand-off” is continuing in ship recycling markets as sellers and buyers remain far apart on price ideas.

Clarksons Platou Shipbroking said in its latest market report that there is certainly nothing to celebrate in the recycling industry as the market stayed in the doldrums.

“The negative sentiment being experienced over the last few weeks has ensured that tonnage supply remains limited, with the uncertainty as to the next direction the market will take putting paid to offers being received from the recyclers,” the broker added.