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Global shipbreaking market decreased by 12% in the first half of 2024

The global shipbreaking market suffered a serious decrease in the January-June period of 2024.

Global shipbreaking market decreased by 12% in the first half of 2024

Total shipbreaking tonnage in the period decreased by 12% compared to the same period of 2023, decreasing to 1.07 million LDT. In the first half of 2023, this figure was recorded as 1.21 million LDT.

It was stated that Bangladesh maintained its position as the largest shipbreaking country globally in the shipbreaking market in terms of tonnage. However, in the first half of 2024, Bangladesh's total tonnage was 551,060 LDT, a decrease of 14% compared to the same period last year. In the first half of 2023, Bangladesh's total tonnage was recorded as 641,197 LDT. Despite this, Bangladesh continued to be the leader in terms of dismantled vessels with 79 units in this period.

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