Tag: ship- recycling

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.

On its latest weekly report, GMS finds that all of the major recycling markets seemed to be deteriorating at the same time as steel plate prices in India declined for a second straight week, further deteriorating Indian sentiments and making Alang Buyers increasingly hesitant to offer firm once again.

On its latest weekly report, GMS highlights that, as deals continue to be concluded into Alang, the Indian ship recycling sector remains on a positive footing overall, with Pakistan and (especially) Bangladesh still lagging behind.

On its latest weekly report, GMS highlights that, nearly all of the markets have enjoyed somewhat of an upward resurgence entering the fourth quarter of the year, after a dire summer that saw over USD 100/LDT wiped off vessel recycling prices in the Indian sub-continent ship recycling markets. 

In an increasingly interconnected world, the need for collective action to address global challenges has never been more evident. Among the critical issues demanding urgent attention is ship recycling, argues Mr. Rohit Agarwal, Managing Partner at GUIDESHIP CONSULTING SERVICES LLP.

On its latest weekly report, GMS highlights that, despite the impending onset of various holidays at the recycling destinations, India remains firmly poised giving sub-continent markets a real boost over recent weeks and even as the industry heads into Q4 of the year.

Petrobras, has achieved a significant milestone in its commitment to sustainable ship recycling, with the successful conclusion of the auction for the disposal of a floating offshore platform in Brazil.

International Ship Recycling Association (ISRA) issued a press statement to express its appreciation of the recent ratification by Bangladesh and Liberia of the Hong Kong Convention (HKC) which was adopted in 2009. Following this ratification the criteria for the convention to enter into force in June 2025 have now been met.

As the Hong Kong Convention is finally coming into force, Watson Farley & Williams (WFW) Partner Nick Walker and Associate Lauren Buchan, raise some immediate questions on what the global framework for ship recycling will look like.

After Bangladesh and Liberia ratified the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (the Hong Kong Convention), it is now expected to enter into force.