Global demolition prices turned out to have been on a rise as of October, 2013.

According to China Water Transport, average scrapping prices of tankers in the range of 15,000-25,000 LDT, Product Carriers (PC) in 6,000-10,000 LDT range and bulkers in 7,000-12,000 LDT were seen at $422.25, $418.35 and $401.75, respectively showing month-on-month growths of 7.30%, 7.26% and 9.44%.

In full October, 74 vessels of a combined 2.70m dwt were sent to scrapping facility and each figure showed decreases of 22.92% and 29.72% compared to the previous month. The average age was 26.1-year which is a 4.41% month-on-month fall.    

In addition, shipbreakers in China, India, Bangladesh and Pakistan are said to have bought 800,000 dwt, 500,000 dwt, 280,000 dwt and 400,000 dwt of scrap volumes, respectively

During the same period, a total of 2.80m dwt vessels were demolished globally, of which, tanker and bulker over 10,000 dwt recorded 900,000 dwt and 1.3m dwt tonnage, respectively. Scrapping facilities in China, India, Bangladesh and Pakistan are said to have demolished vessels of 900,000 dwt, 700,000 dwt, 300,000 dwt and 400,000 dwt, each.