Global Ship Recycling Market Faces Stagnation and Uncertainty The ship recycling industry continues to struggle with sluggish activity and various challenges across key markets, according to reports from leading companies like Best Oasis, Clarkson Platou Hellas, and Allied. India: The situation in India, traditionally a major ship recycling hub, remains [...]
EU Ship Recycling Regulations Under Review: Potential Changes and Impact on Asian Yards The European Commission’s review of its Ship Recycling Regulations (EUSRR) is nearing completion, with results expected in the second quarter of 2024. This review holds significant implications for the future of shipbreaking practices, particularly concerning the potential [...]
The Ship Recycling Market: Challenges Amidst Demand and Global Economic Slowdown The ship recycling market, despite the persistent demand for ships, finds itself in a state of sluggishness. Best Oasis, a prominent cash buyer of ships, paints a picture of the current landscape as stagnant, with little signs of improvement [...]
India Modernizes its Merchant Shipping Laws: A Comprehensive Overview India is in the process of updating its merchant shipping laws, replacing the outdated Merchant Shipping Act of 1958. The new provisions aim to align with current international maritime conventions that India is part of. Additionally, they seek to streamline the [...]
World’s leading ship cash buyer for recycling BEST OASIS predicted that, India’s ship recycling activity is continuing to decline. We observed this week that India’s ship recycling activity is continuing to decline, with the country demonstrating little interest and low demand. Bangladesh continued as it had the week prior, but [...]
GMS Anticipates a Glimmer of Hope for Ship-Recycling Industry in 2024 The ship-recycling industry faced a challenging 2023, culminating in a particularly dismal six-month tail end. However, as we step into 2024, there is a cautious optimism and a ray of hope for recovery, according to cash buyer GMS. Multiple [...]
