Tag: Bangladesh

The Ministry of Industries (MoI) has fined SN Corporation Shipbreaking Yard and ordered a three-month suspension of operations following a fatal explosion on September 7 that resulted in six deaths and injuries to six others.

NGO Shipbreaking Platform underlines that the explosion on the oil tanker MT Suvarna Swarajya in Bangladesh on September 7, 2024, has drawn attention to severe safety and labor issues in the shipbreaking industry.

ReCAAP Information Sharing Center has published a special report to notify interested parties that there has been an increase in the number of piracy incidents reported in Bangladesh since January 2024.

Summit LNG announced it will send its damaged Floating Storage and Regasification Unit (FSRU) for repairs after suffering damage in Bangladesh.

According to GMS' latest weekly ship-recycling report, the recent intentional depreciation of the Bangladeshi Taka has led to a significant slowdown in sales and activity within the country. The unexpected drop in value has prompted domestic ship recyclers to reassess potential costs and implications, causing a more cautious approach in the market.

According to GMS’s latest weekly ship-recycling report, as freight markets push further on, global ship recycling markets remain deprived of tonnage, making it an increasingly suffocating environment for ship recyclers to operate in.

According to GMS’s latest weekly ship-recycling report, in spite of Chinese New Year holidays having concluded over a week ago, the ongoing & unending lethargy that is permeating through global ship recycling markets is now being exclusively driven by the relentless & futile shortage of tonnage that is expected to continue until Spring.

According to GMS's latest weekly ship-recycling report, despite Chinese New Year Holidays, a pervading theme of an unrelenting dearth in the overall availability of tonnage across global ship recycling markets has been enduring for several quarters now, resulting in another dry and dreary week of market inactivity and silence across all recycling destinations.

On its latest weekly ship-recycling report, GMS finds that, despite the Pakistani & Bangladeshi markets stabilizing & displaying a far greater aggression at the bidding tables over the last 5 weeks (that too at ever improving rates), in addition to the long awaited Chinese New Year holidays that have finally descended across the world, it has been a remarkably quieter start to 2024 for ship recycling than many had anticipated.

On its latest weekly ship-recycling report, GMS finds that geopolitical events and the unfolding conflict in the Middle East have kept global trading lanes busier and the freight markets unseasonably high, when many had been expecting the Dry Bulk & Container sectors to cool off as the industry approaches the traditionally quieter Chinese New Year holidays early next month.