High scrap prices on ships prompt busy start to the year

Shipping lines have been busy scrapping vessels in the beginning of the year. This is especially tied to prices being at a six-month high, according to shipbroker.

Photo: Ajit Solanki/AP/Ritzau Scanpix

Scrap prices on ships are at their highest point in half a year, which has prompted several shipping lines to scrap vessels in the start of the year, according to shipbroker Simpson Spence Young (SSY).

"The start of 2020 has been very busy," the broker states in a new report.

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