Global ship recycling tonnage falls 12% y-o-y in H1CY'24

The global ship-breaking market remained in deep waters in the first six months of 2024. Total tonnage sunk 12% to 1.07 million light displacement tonnage (LDT) compared to 1.21 million LDT recorded in the same period of 2023.

Bangladesh remained the largest ship-breaker globally in terms of tonnage similar to last year. However, it concluded the first half of the year with total tonnage dropping over 14% to 551,060 LDT against 641,197 LDT in H1CY23. It also led in terms of vessels demolished, at 79 units compared