2011 saw a total of 994 vessels of a combined 40.9m dwt, 24.7m gt be sold for scrap, which increased by 10.3% in numerical terms and by 48% in dwt terms, year-on-year.

According to Clarksons, demolition sales has remained high since 2008 of 14.2m dwt, followed by 33.3m dwt in 2009 and 27.6m dwt in 2010. It forecast that 48.1m dwt would be sold for demolition in 2012 and 37.3m dwt in 2013.

Meanwhile, 72 vessels of a combined 3.6m dwt were sold for demolition in December 2011, increased by 41% in numerical terms, month-on-month.

Bangladesh still remaining closed during December, Chinese shipbreakers and Indian breakers purchased 18 vessels and 40 vessels, respectively.