Ship recycling drought leaves record ageing fleet afloat

AI Summary

Ship recycling is in its longest sustained slump in more than 50 years, even as the global merchant fleet reaches an unprecedented level of aging tonnage. Clarksons Research counted 273 ships, totaling 5.5 million gross tons, sold for demolition in the first nine months of 2026.

Ship recycling has sunk into its longest sustained slump in more than half a century, just as the global merchant fleet accumulates an unprecedented amount of ageing tonnage. Clarksons Research calculates that just 273 ships of 5.5m gt, equivalent to around 8m dwt, were sold for demolition in the first nine months of 2026, 13% …