China’s Ship Demolition Hit 283 Units in 2010:

According to official statistics, in 2010 Chinese ship demolition volume hit 283 units of 1.879m LDT.

Statistics from China National Shiprecycling Association showed in 2009 Chinese ship demolition volume reached 3.1m LDT. Although the figure in 2010 was reduced by 40% against that of 2009, it was still higher than those during 2006, 2007 and 2008.

In addition, the trade value of Chinese ship demolition industry exceeded CNY4.5bn ($676m). The scrap ship and other floating structures occupied over 40% of Chinese import ship products.

Secretary Xie Dehua of China National Shiprecycling Association introduced global shipping and shipbuilding market changed a lot against that of 2009. As a result, obviously the scrap ship and demolition market experienced fluctuations.

As shipping and shipbuilding market turned around, global scrap ship volume was lower than expectations while scrap ship price was climbing. In 2010, the monthly average price of China’s import scrap ships was $361.91 per LDT, slightly higher than the level of 2009.

Source: eshiptrading.com. 2011-1-25

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