According to NGO Shipbreaking data, worldwide 113 ships were scrapped during the Q3 2018 period. Scrapped ships by country were India 34, Bangladesh, 35, Turkey 22, Pakistan 10, China 1, and 11 in the EU and the rest of the world.
In 2017, 838 ships were reportedly scrapped worldwide with India, Bangladesh, Turkey, and Pakistan breaking 676 ships or 81 percent of the total.
Per recent discussion with several freight operators, SteelOrbis has been informed that the tighter management of ship inventories has supported freight prices in H2 2018 and is expected to continue supporting freight prices in 2019.