Challenges and Slowdowns Plague Global Ship Recycling Market The ship recycling market is currently facing a significant lack of activity, according to recent reports from leading shipbrokers and industry players. The situation is notably grim across various regions, with low sentiment prevailing and challenges emerging from regulatory changes and economic [...]
Ship Recycling : India experienced significant fluctuations World’s leading cash buyers for ships for demolition BEST OASIS explained in their weekly ship recycling report. The United Arab Emirates (UAE) has recently introduced a comprehensive set of regulations about ship recycling. These regulations explicitly prohibit the use of “beaching” and “landing” [...]
Ship Recycling Markets Face Year-End Struggles Ship recycling markets are facing significant challenges as they approach the final weeks of the year, according to a report from cash buyer GMS. The market has experienced minimal activity and new sales, as most end users are refraining from making purchases and are [...]
MSC Rita’s Fiery Farewell: Container Ship Sold for Recycling Amidst Industry Challenges In June, a significant event unfolded in the maritime world as a fire broke out on the MSC Rita, a container ship belonging to MSC Mediterranean Shipping Company. The vessel was anchored off Abu Dhabi’s Khalifa Port at [...]
Revolutionizing International Ship Recycling: EU’s Landmark Agreement Unveiled A groundbreaking agreement on waste shipments between the European Council and Parliament is set to revolutionize the responsible recycling of EU-flagged ships internationally, outside the European Union (EU) and the Organisation for Economic Co-operation and Development (OECD), according to Danish Shipping, a [...]
Recycling Resurgence: Overcoming Festival and Holiday Slowdown in India Leading cash buyer for ships for recycling, Best Oasis in their weekly ship recycling report noted that, the festival and holiday caused a deceleration in recycling activities in India; this is anticipated to improve in the coming days. Regarding Pakistan, positive [...]
Ship recycling market remain subdued. As the Diwali holidays take center stage in the sub-continent markets, the maritime industry enters the final months of 2023 with a precarious balance, according to cash buyer GMS. Despite some impressive sales reported in India, overall sentiments and pricing remain subdued. Moving to the [...]
The ship recycling industry is currently experiencing a slowdown, especially in Bangladesh and Pakistan, while Indian recyclers remain active. Clarkson Platou Hellas, a shipbroker, described the market as entering a period similar to autumn, where activity from Bangladeshi and Pakistani recyclers is low, with only Indian recyclers showing positive signs. [...]
The ship recycling industry plays a crucial role in the global maritime sector, facilitating the sustainable disposal and reuse of aging vessels. However, the industry has long faced environmental and human rights concerns due to unregulated practices in some regions. In response to these issues, the International Maritime Organization (IMO) [...]
GMS, the world’s largest buyer of old ships, states that no ships have been brought to the shore in Gadani, Pakistan since January. The main reason for this was the Central Bank’s reluctance to provide necessary financial guarantees, especially for larger ships. However, end buyers are expecting few ships in [...]
