Tag: Pakistan

The Indian Navy successfully rescued 23 Pakistani sailors along with their Iranian fishing vessel from a pirate attack in the Arabian Sea.

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.

BIMCO, Bangladesh, India, Norway, Pakistan and the ICS, have submitted a paper ahead of the 81st Marine Environment Protection Committee (MEPC) meeting on 18-22 March 2024, to highlight the need to solve possible conflicting requirements of the Hong Kong Convention and the Basel Convention which could have severe consequences, if unresolved. 

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.

On January 16 2024, two workers lost their lives crushed by a heavy iron plate during the dismantling of a bulk carrier at Dewan Shipbreaking in Gadani, Pakistan.

On its latest weekly report, GMS highlights that with 2024 well underway and HKC sales having taken center stage of late, GMS's Sustainable Ship & Offshore Recycling Program (SSORP) continues to surpass all of the stipulations & requirements for the environmentally safe and responsible recycling of ships that are currently set by the Hong Kong Convention (HKC).

The governments of Dubai and the Islamic Republic of Pakistan have signed two Inter-Governmental Framework Agreements to strengthen their relations in the marine and logistics sectors, including the potential establishment of a Dedicated Freight Corridor and Economic Zone near Karachi.