Yangzijiang

Yangzijiang: Shipbrokers expect 2012 to be another boom yr for scrap mkt, as a depressed freight mkt and high fuel costs could force owners to send older fuel-guzzlers to scrap yards. Also fuelling the boom at ship recycling yards is the demand for recycled steel. 38.8m DWT were scrapped worldwide in 2011, and 98% of total scrapped tonnage are handled in China, India, Turkey, Bangladesh, Pakistan.