The fall and rise of ship recycling: A journey towards sustainability

The fall and rise of ship recycling: A journey towards sustainability

Ship recycling, also known as ship breaking, has been an essential part of the maritime industry for centuries. It involves dismantling obsolete or decommissioned ships to recover valuable materials and components. However, over the years, the industry has faced significant challenges, leading to both its fall and subsequent rise as [...]

Ship recycling market sluggish

Ship recycling market sluggish

There is some speculation that Pakistan might soon return to the ship recycling market, following the strengthening of the Pakistani rupee against the U.S. Dollar due to a funding agreement from the International Monetary Fund (IMF). If this happens, it could create competition for Bangladesh and India, particularly for ‘non-green’ [...]

Hapag-Lloyd sold 3 vessels for recycling

Hapag-Lloyd sold 3 vessels for recycling

Hapag-Lloyd, a major container shipping company, has sold three older vessels for demolition, following their plan outlined in a recent earnings call. Singapore’s Wirana Shipping Corp, a company that acquires old ships for recycling, announced that Hapag-Lloyd sold two ships built in 1998, the Mississauga Express with a capacity of [...]