The scrapping of container vessels is witnessing a rise this year, with 120 ships, totalling 200,000 TEUs, heading for the breakers during the first six months, according to Exim News Service.
Recent reports indicate a surge in scrapping, with 38 vessels being done away with during the first three months of 2012 after a quiet 2011 when 50 ships were recycled averaging 3,000 TEUs.
The previous year's calm was attributed to owners and carriers being buoyed by the profits of the earlier year.
Of the vessels scrapped thus far, the youngest was merely over a decade old, while the oldest was built 42 years ago.