AS HAS been said repeatedly during the global pandemic, these are strange times. One particularly strange aspect of this worldwide crisis is that shipping is by and large doing well. That is not something I would have predicted 18 months ago.

Over the years, a common dilemma for shipowners has been whether to scrap a ship when both freight and demolition prices are low or keep her operating a bit longer, often with a special survey not far off, and hope for a rise in one of the markets.

Readers of this column will be aware that container freight rates have soared over the past year. Interestingly, recent data from online valuation and data provider VesselsValue indicates a similar trend for demolition prices.