Demand shocks keeping aging fleet afloat, argue shipowners
April 8, 2024Ship recycling has fallen to its lowest level in 20 years, per a recent report by the Baltic and International Maritime Council (BIMCO).
BIMCO — a trade group representing shipowners — states that capacity has been overtaxed by the Red Sea crisis, which has forced shipping lines to take a longer route around Africa’s Cape of Good Hope.…
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