Tag: ship- recycling

According to GMS’ latest weekly ship-recycling report, Pakistan is the only market to have displayed any optimism of late. 

According to GMS’ latest weekly ship-recycling report, Indian sub-continent ship recycling markets remain decidedly dicey as both currencies and local steel plate prices in India & Bangladesh declined even further this week.

A Memorandum of Understanding (MoU) has been signed among key stakeholders to establish a ship recycling initiative in Bahrain.

According to GMS’ latest weekly ship-recycling report, the anticipated/ongoing seasonal slowdown in activity coupled with softening vessel prices has clearly started to characterize the year’s summer/monsoon mess across the Indian sub-continent ship recycling markets.

According to GMS’ latest weekly ship-recycling report, it has been another tentative time in the global ship recycling markets as overall this week, SNP activity and local arrivals / deliveries reported minimal movements at the various waterfronts (Turkey’s permanent holiday notwithstanding), in addition to no market sales to report in the midst of Indian sub-continent ship recyclers.

According to GMS’ latest weekly ship-recycling report, the Indian subcontinent's ship recycling markets are navigating turbulent waters this summer, as monsoon months bring both literal and economic storms. 

During the 2024 GREEN4SEA Singapore Forum, Capt. Akshat Arora, Senior Risk Assessor, UK P&I Club, provided an overview of ship recycling regulations, emphasizing best practices for the Inventory of Hazardous Materials (IHM) and highlighting the risks associated with non-compliance.

According to GMS’ latest weekly ship-recycling report, ship recycling markets in the Indian sub-continent are under pressure due to economic troubles in Bangladesh and Pakistan, the slower summer/monsoon season, and India's recent election results, while Turkey remains stagnant and awaits new tonnage.

According to BRS Shipbrokers, the first half of the year is set to end with the lowest annualized tanker demolition level on record, with only 2 tankers scrapped so far into 2024 and multi-decade low deliveries expected throughout the year, the tanker fleet is set to age further this year.

According to GMS’ latest weekly ship-recycling report, in light of the jaw-rattling Baja speed runs that the Indian sub-continent ship recycling economies have subjected Ship Owners & Cash Buyers to over recent weeks, they have increasingly set the stage for another knuckle-biter of a third quarter.