Regulation

Ship recycling hits lowest level in 20 years

The low rate of ship recycling is continuing in 2024. Small order books have kept older ships in operation for longer, according to new Bimco analysis.
On average, only 0.1% of the fleet has been recycled during this period, compared to an average of 0.45% over the last 20 years. | Photo: Amit Dave/Reuters/Ritzau Scanpix
On average, only 0.1% of the fleet has been recycled during this period, compared to an average of 0.45% over the last 20 years. | Photo: Amit Dave/Reuters/Ritzau Scanpix
by SEBASTIAN SCHLÜTER JACOBSEN

Global shipbreaking will continue its low level in 2024, reaching levels not seen since before the financial crisis in 2008, according to an analysis from Bimco.

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