The number of ships sold for recycling so far this year has risen sharply, despite red-hot boxship and bulker markets tempting many owners to hang on to older vessels.

Figures compiled by demolition broker Ed McIlvaney show 437 units registered as scrapped, against 274 in the first six months of 2020.

"Tonnage-wise, this year continues to be further advanced than it was at the same juncture in 2020," he said.