New ship-recycling destinations could soon be a thing, as two organizations are exploring the possibility of a ship recycling yard’s potential in Porto, while Egypt’s first ship scrapping project near Damietta Port is underway.
Brazil’s Porto Central and Modern American Recycling Services Europe have signed a Memorandum of Understanding (MoU) to explore the feasibility of establishing a state-of-the-art ship recycling and decommissioning yard in Porto Central, Brazil. Together, they seek to assess the potential benefits of the project, including job creation, revenue generation, and environmental preservation.
According to the signing organizations, the proposed yard project offers numerous benefits for the local community, economy, and environment.
In terms of scope and impact, the proposed yard has the potential to be a transformative project that significantly influences the local area and beyond.
Meanwhile, Egypt’s Holding Company for Maritime and Land Transport and El Wehda Industrial Development have signed a memorandum of understanding (MoU) to implement Egypt’s inaugural ship scrapping and recycling project, covering 155,000 square meters west of Damietta Port’s western barrier.
The project entails constructing a sea barrier extending 1.5 kilometers to combat siltation, with dredging operations following Ministry of Transport guidelines. Minister of Transport Kamel El-Wazir noted the project’s aim to bolster the iron and steel industry by substituting imported solid scrap with locally sourced materials from ship recycling.
It will include establishing a scrapyard meeting international standards for vessels of all sizes, ensuring compliance with global regulations like the Hong Kong and Basel conventions and European ship recycling regulations.
Anticipated to yield 1.5 million tons of scrap annually over five years, the project is expected to meet 66% of the local market’s demand, reducing reliance on imports.
