Sliding Freight Rates Send More Big Bulk Ships to Scrapyards

Apr 14, 2019 at 07:11 AM CST

A sharp decline in dry cargo ship freight rates in the first quarter sent more giant ships to scrapyards in Southeast Asia in the first three months of the year. But analysts expect a slow recovery in Chinese imports of commodities such as iron ore will likely boost demand and put the brakes on recycling later this year.