Tag: ship- recycling

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 Sub continent pricing and sentiments remain stranded in the low 500s/LDT and for certain units even below, as we meander aimlessly towards the end of the year with very little serious and enticing levels to induce either owners or cash buyers to sell.

In this quarterly publication, the NGO Shipbreaking Platform informs about the shipbreaking practices in South Asia, providing an overview of accidents that took place on the beaches of Bangladesh, India and Pakistan, relevant press media as well as research.

The European Parliament and the Council have reached an agreement on updated and more efficient rules for waste shipments. Danish Shipping issued a press statement to welcome the new agreement, commenting that it will raise the standards at ship-recycling facilities around the world. 

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.

Priya Blue Marine has issued a digest publication including local steel rates, tonnages arrived at Alang, and detailed information on the materials they obtain from ships during the recycling process, as well as the destinations of these materials from their ship recycling yards.

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).

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, examines the average age of the container fleet, the order book, and the number of ships recycled. Going forward, the average age of the fleet is expected to decline while the average energy efficiency of ships will increase.