Bulk

Clarksons: Many bulk vessels scrapped in China

The scrapping of end-of-life vessels has in 2015 surpassed delivery of new tonnage in China. The country's state aid for scrapping of especially dry bulk seems to be in full effect.
Photo: Georg Hammerstein/POLFOTO/ARKIV
Photo: Georg Hammerstein/POLFOTO/ARKIV
BY OLE ANDERSEN

Chinese carriers have in 2015 scrapped enormous volumes of end-of-life tonnage, and dry bulk vessels in particular have been sent to scrap - a development that the country's authorities have instigated by providing state aid for scrapping in an attempt at revamping the Chinese commercial fleet while also ensuring work for the country's struggling shipbuilding industry.

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