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Recycled shipping rates hit the roof but likely to cool down soon
Aug 30: Recycled ship prices have jumped to the $400/LDT mark for India and Bangladesh delivery.
8Also for the first time in memory, bulker prices are as strong as tanker prices
8But high prices are likely to correct downwards going ahead as a severe downturn in the oil & gas drilling market has forced many offshore vessels to be scraped.
8An acceleration in the scrapping of tanker vessels will also bring about a fall in prices
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