Record scrapping of less fuel efficient vessels
Record scrapping levels of 33 million tonnes in 2012, and the promise of more scrapping in 2013 will help bring the shipping market into balance, officials of Greek dry bulk shipper Navios Maritime Partners L.P. [NYSE:NMM] (Navios) told analysts on their Q1 2013 earnings call.
"Scrapping rates for older, less fuel efficient vessels have continued at very high rates this year," said George Achniotis, executive vice president of business development.
"Through April 18, about 8.7 million deadweight tons was scrapped.
"If this trend continues, scrapping could once again exceed 30 million deadweight tons in 2013."
Read in full: http://shipandbunker.com/news/world/690861-record-scrapping-of-less-fuel-efficient-vessels-points-to-market-improvement
