The ship recycling conundrum: an econometric analysis of market dynamics and industry trends

Ship recycling has received considerable attention during the last two decades for a variety of reasons and the industry is currently under a thorough scrutiny with the likelihood of the adoption of a new multilateral convention under the auspices of the International Maritime Organization (IMO). This study applies econometric modeling to a unique dataset to provide a holistic insight into the dynamics of the ship recycling market. The dataset contains information on 51,112 ships over 100 gt and includes 748,621 events over a period of 29 years. The binary logistic regression models used provide insights for a shipping-related sector that has received scant scholarly attention in the past. It is expected that these contributions will provide empirical support for the ongoing IMO discussions in this important field.