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…
Demo markets continue their upward trajectory this week surpassing the $600/LDT barrier on a number of select units. This may be due to a general paucity in the overall supply of tonnage over these quieter summer/monsoon months, while local steel plate prices have regained momentum of late…
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…
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 coronavirus outbreak has affected all aspects of the shipping industry, lowering, if not wiping out, demand growth prospects for the year across all segments. The outbreak has also affected fleet development, says shipping association BIMCO…
