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Ship recycling slump stretches to longest in over half a century as ageing fleet grows
Clarksons Research estimates that only 273 ships of 5.5m gt, equal to about 8m dwt, were sold for demolition in the first nine months of 2026, while the global merchant fleet accumulates an unprecedented amount of ageing tonnage.
Ship recycling has sunk into its longest sustained slump in more than half a century. According to Clarksons Research, just 273 ships of 5.5m gt, equivalent to around 8m dwt, were sold for demolition in the first nine months of 2026.
At the same time, the global merchant fleet is accumulating an unprecedented amount of ageing tonnage, as vessels stay in service rather than being sent for demolition.
The downturn therefore persists on the demolition market while the average age of the world fleet rises. The source also mentions a figure of 13%, but the relevant passage is cut off, so its value and direction are not reported here.
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