Despite calls from many luminaries in dry bulk for the sector to get back to scrapping, owners simply are not listening.

Clarkson Research notes in its most recent weekly report, for instance, that capesize recycling has dropped by more than 50% on an annual basis in tonnage terms with 2.1m dwt reported scrapped in 2017 so far.

"The improvement in freight rates in the dry bulk market in 2017 so far has been sufficient for owners to continue trading their oler vessels," Clarkson Research reported, suggesting bulker demolition is likely to remain "muted".

Nevertheless, very decent rates are on offer from south Asia. Lion Shipbrokers reports, for example, the Cape Tavor, a 1999-built ship, has just achieved a firm US$346 per ldt from recyclers in Bangladesh.