According to the data issued by the
China National Shiprecycling Association, in 2010
China recycled 283 ship vessels with a total weight of 1.879 million nt, lower than the 3.1 million nt recorded in 2009, but higher than the aggregate tonnage figures for 2006, 2007 and 2008.
In 2010,
China's shiprecycling industry has achieved a turnover of more than RMB 4.5 billion ($683 million). Due to the recovery seen in both the shipping market and the shipbuilding market, prices for scrapped ship vessels rose during 2010 due to shortage of the supply side.