Bulk ships are dying faster and younger this year

Hong Kong

MORE ships built to transport iron ore and coal have been scrapped so far this year than in all of 2014 as the commodity slump stunts the life expectancy of bulk carriers.

Twenty-nine Capesize vessels with an average age of 21.4 years have been turned into scrap through March 4, according to GMS Inc, the world's biggest cash buyer of ships for recycling, citing data from Clarkson plc. That's a faster pace than the 93 destroyed all of last year and the 25 in 2014.