As demolition prices in China plummeted in June, 2013, ship scrapping facilities are seen to confront deficit crisis.
According to data from China Water Transport, demolition prices of tankers in the range of 15,000-25,000 LDT, PCs in 6,000-10,000 LDT, bulkers in 7,000-12,000 LDT were $335, $328 and $312, respectively, declined by 10.27%, 10.56%, and 11.81% from the previous month.
Meanwhile, China bought a total of 13 old vessels of a combined 390,000 dwt for demolition and scrapped a total of 300,000 dwt vessels in June.