The ship recycling market has been under pressure for quite some time, marking 2022 as a rather turbulent year. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “, there is some renewed hope that the financial restrictions experienced in Bangladesh and Pakistan could soon be lessened. It is reported this week that a few recyclers have managed to open Letters of Credit, albeit smaller capital in Bangladesh, which could help the market move into a positive mode as we head into the New Year to finally create some much-needed competition to their counterparts in India.
