Tag: Pakistan

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. 

On its latest weekly report, GMS highlights that anxiety and uncertainty reign across the Ship-owning community at large, especially for those with units trading in, or simply passing through the shipping lanes that are currently besieged by Houthi Rebel attacks in the Red Sea.

On its latest weekly report, GMS highlights that after what has been an overall miserable 2023 in the ship-recycling industry and even worse 6- month tail end of, 2024 seems to be off with just a little more hope and a chance at recovery as positive signs seem to permeate through the markets.

BIMCO announced that it welcomed Pakistan’s accession to the Hong Kong Convention. This is a significant milestone that effectively seals the loopholes and further strengthens the international ship recycling regime. 

On its latest weekly report, GMS finds that, as Diwali holiday celebrations concluded earlier in the week, Alang Recyclers seems to slowly be filtering back to work amidst declining plates prices, sentiments, and local offerings that remain stagnant.

On its latest weekly report, GMS finds that, markets remain precariously poised as Diwali holidays are finally upon the sub-continent markets and the industry heads into the final months of the 2023.

On its latest weekly report, GMS finds that, as they progressively approach Diwali holidays - inflation, fundamentals, currencies (except in India), vessel pricing, and overall weakening sentiments certainly seem to have beset across all of the sub-continent ship-recycling destinations (even Turkey to an extent).

On its latest weekly report, GMS finds that, even though this most recent decline in prices has not been as dramatic as some had feared, firmer offers may still be difficult to come by in the coming week(s).