MarineLink Maritime News reported on 12 November 2026 that dry bulk ship recycling plunged to an 18-year low during the first ten months of the year, signalling a marked slowdown in scrapping activity across the sector.
Drop in tonnage and numbers Between January and October 2026, scrapping of dry bulk tonnage fell 36 per cent year-on-year to just 3 million deadweight tonnes, the report states. That aggregate came from the recycling of only 70 vessels, the lowest count recorded for the segment in nearly two decades.
Most of the units sent to breakers were smaller bulk carriers, with the handysize and supramax sectors accounting for the majority of disposals. The concentration of recycling in these segments means the absolute number of ships removed from the global fleet was small compared with previous years.
Market drivers MarineLink attributes the sharp reduction in recycling primarily to sustained strength in freight markets, which has encouraged owners to keep ageing tonnage in service rather than send it for demolition. High charter and voyage earnings have extended the operational lives of older ships, delaying decisions that might otherwise have led to scrapping.
The resulting fall in dismantling activity has implications for both shipowners and recycling yards, since fewer candidates for demolition reduces throughput at breaking yards while simultaneously keeping additional capacity available in the trading fleet. The report’s figures indicate a material shift in the balance between supply and removal of dry bulk tonnage for 2026 to date.
Industry observers following the MarineLink report emphasise that the pattern recorded between January and October is significant because it contrasts with years when weaker markets accelerated scrapping. In the current cycle, owners have been able to extract further revenue from older vessels, and as a consequence the wave of disposals that might have been expected has not materialised.
The 3 million DWT total and the modest count of 70 recycled ships underline how reductions in scrapping can occur even when demolition is concentrated in smaller vessel classes. That dynamic has helped sustain available carrying capacity in the handysize and supramax sectors while keeping downward pressure off fleet numbers more broadly.
The MarineLink item provides the official consolidated figures for the January–October period and highlights the close link between freight market conditions and scrapping decisions. As the calendar advances, future monthly and quarterly updates will determine whether the subdued pace of recycling persists or whether it normalises should freight conditions alter.