Ship recycling down 14pc so far this year.

The ship recycling activity has fallen by almost 14 percent so far this year, according to data from Xclusiv Shipbrokers. This, despite the fact that prices haven't fallen that much in Southeast Asia. In its latest weekly report, the shipbroker said that "despite the fact that the demolition market is at almost similar levels as one year ago, with prices in India, Pakistan and Bangladesh being 7 percent, 10 percent and 2 percent down, while in Turkey being roughly 30 percent up, we have...