Scrapyard prices are rising at the same time as increasing numbers of ships are coming up for demolition, according to a weekly note from Clarkson Platou Hellas. It said Scrapyard prices had risen by $40-$50 per light displacement ton, and were approaching those seen at the start of the year. The price increase is likely due in part to an increased demand for scrap metal after China imposed tariffs on steel imports last year, which has pushed down prices.
Scrapyard prices are rising at the same time as increasing numbers of ships are coming up for demolition, according to a weekly note from Clarkson Platou Hellas. It said Scrapyard prices had risen by $40-$50 per light displacement ton, and were approaching those seen at the start of the year. The shipbroker said the increased rates could tempt more owners into selling their older vessels, but so far the market hasn't been inundated with tonnage.