Tag: ship- recycling

According to GMS’s latest weekly ship-recycling report, it has remained a tranquilized week for the ship recycling market since their last report. 

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 Korean Register, recently, the United Arab Emirates (UAE) has issued guidelines regarding the UAE Ship Recycling Regulations (UAE SRR). The UAE SRR imposes stricter requirements than the EU Ship Recycling Regulation (EU SRR) by prohibiting not only the beaching but also the landing method.

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.

According to new data released by the NGO Shipbreaking Platform, 446 ocean-going commercial ships and offshore units were scrapped in 2023.

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.

In this quarterly publication, the NGO Shipbreaking Platform informs about the shipbreaking industry in Bangladesh, India and Pakistan. Providing an overview of accidents that took place on the beaches of South Asia and recent on-the-ground developments NGO aims to inform the public about the negative impacts of substandard shipbreaking practices.