It has been another challenging week in the sub-continent markets, with a resurgent India and a Bangladeshi market that is still reeling from some of the recent falls in local steel, which have seen nearly $50/LDT knocked off the prices this week alone…
It was another incredibly firm showing from the sub-continent markets this week, according to GMS, particularly Bangladesh and even a recently resurgent India (who now seem to be competing even more on tonnage), whilst Pakistan misses out on units once again…
Following recent upward moves on domestic steel plate prices at nearly every major recycling destination, it was another week of firm pricing and a sub-continent market that is still on an aggressive footing for the most part.Demand remains…
Chinese (Lunar) New Year holidays concluded this week and there appears to be a real spring in the step of industry players, as international ship recycling markets continue to push on once again, according to GMS.Both, Pakistan and Bangladesh…
According to GMS, itt has been an increasingly static week in the Indian sub-continent ship recycling markets, especially after some early 2022 optimism displayed by a resurgent India in particular.Sales on various specialist units soared this…
Sub-continent ship recycling markets (including Turkey) remained in a precarious position this week, with the recent decline in steel plate prices mixed in with the crushing depreciation of currencies that has led to a serious dearth in the global demand for tonnage…
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current market for seaborne transportation of crude oil is weak and has caused freight rates to drop to multi-year lows…
Prices across the Indian sub-continent ship recycling markets continue their impressive upward trajectory this week, as end buyers press on for any available tonnage, at levels well above $600/LT LDT, especially in the case of Bangladesh and a now firming Pakistani market…
Sub-continent markets continue to fire on during the summer / monsoon months, as firmer steel plate prices and an increasing lack of available tonnage has invariably pushed sub-continent offerings on to previously unthinkable levels.Not since the boom year of 2008 have we seen levels quite so high…
The ship recycling markets continues to perform well, according to GMS. The supply of tonnage remains primarily focused on wet and offshore units – particularly OSVs, FSUs, Aframax tankers, MRs and smaller bunkering tankers.In particular Pakistan…
Dr. Anil Sharma, CEO and founder of GMS, is a dominate player in the world’s ship recycling business. MR TV caught up with him in late June 2021 for insights on the pace and direction of ship recycling activity and pricing.Dr. Sharma, to start…
Classification society DNV GL launched a new guidance on vessel recycling to help shipowners navigate a regulatory environment that is becoming increasingly complex.With the IMO Hong Kong Convention not yet in force, strict enforcement of the…
The Recycling of Ships Bill 2019 for safe and environmentally sound recycling of ships in India has become an Act after receiving the assent of President of India.The government of India decided to bring this Act to provide for the regulation…
Royal Belgian Shipowners' Association (RBSA) welcome the accession by the Government of India to the Hong Kong International Convention for Safe and Environmentally Sound Recycling of Ships, also known as the HKC.Yesterday (November 28), India became the 15th Party State to the HKC…
India, one of the world's five major ship recycling countries, has acceded to the IMO Hong Kong Convention, the treaty that will set global standards for safe and environmentally-sound ship recycling.India's accession brings this important convention a significant step closer to entering into force…
