A total of 443 ocean-going commercial ships and offshore units were sold for scrapping in 2022, data from NGO Shipbreaking Platform shows.Of these, 292 large tankers, bulkers, floating platforms, cargo- and passenger ships ended up for dirty and dangerous breaking on tidal beaches in Bangladesh, India and Pakistan.The latest report from the platform shows that whilst the South Asian shipbreaking yards experienced the lowest turnover in over a decade, with a significant drop in terms of the number of ships scrapped, they remained the preferred destination for end-of-life vessels, dismantling 80% of the global end-of-life gross tonnage.The reasons for the plunge in the number of vessels scrapped include high ocean freight rates that made it profitable to continue operating older vessels and banks’ shortages in providing credits to companies for the purchase of end-of-life assets identified as the main drivers.The fact that 80% of ships are still being scrapped on South Asian beaches highlights the pressing need for change in the ship recycling industry. This statistic highlights the urgent need to transform the sector to more sustainable and safe methods of recycling ships.
