Ship Recycling: Indian market marked demand for vessel Over the past week, the ship recycling markets across various destinations have exhibited diverse trends. In India, the market has seen a slight uptick, marked by a modest increase in demand for vessels, signaling a positive shift in market conditions. Conversely, Bangladesh’s [...]
A Looming Crisis: Delays and Challenges in Decommissioning Yemen’s Ailing Oil Tanker In August of last year, the United Nations (UN) proudly announced the completion of the oil transfer from the deteriorating FSO Safer, an oil tanker turned storage unit, located just four miles off the coast of Yemen. However, [...]
A Sharp Plunge in Product Tanker Recycling in 2023 Signals Industry Shifts By BIMCO In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at product tanker recycling activity which dropped to its lowest level on record in 2023, partly due to strong earnings, [...]
India aims to lead Global Maritime The Union Minister of Ports, Shipping & Waterways (MoPSW) and Ayush, Shri Sarbananda Sonowal chaired a mid term review meeting here today. The meeting was held to determine a comprehensive approach towards swift and smooth execution of the ‘PM Maritime Amritkaal Vision’ with an [...]
Bangladesh’s Young Ship Recyclers Striving for Sustainability. In a recent conversation with TradeWinds, three dynamic ship recyclers from Chattogram shared their dreams of transforming ship recycling yards in Bangladesh. Currently, out of approximately 60 active ship recycling yards, only four are certified under the Hong Kong International Convention for the [...]
After a challenging summer where ship recycling prices in Indian sub-continent markets plummeted by over USD 100 per Light Displacement Ton (LDT), there’s good news entering the final quarter of the year. Almost all markets have experienced a significant upswing. India has particularly benefited from this resurgence, making impressive container [...]
(1) Cargo ship hit a mine in Black Sea A small cargo ship from Turkey, marked with the Turkish flag, hit a mine in the Black Sea near Romania’s Sulina Canal entrance. The ship, named Kafkametler and 31 years old, suffered minor damage, but thankfully, the crew was unharmed. After [...]
European companies are dumping their old ships on the beaches of Bangladesh, according to a report by Human Rights Watch (HRW). These ships are being broken down by workers in dangerous and polluting conditions, leading to the loss of lives. The Sitakunda beaches in southeastern Bangladesh have become one of [...]
(1) Turkey’s Growing Role in the Mediterranean Oil Trade Turkey has become a significant player in the Mediterranean oil industry, despite not having its own oil reserves, thanks to its crude oil exports. According to the latest report from shipbroker Banchero Costa, 2023 has been a positive year for the [...]
The maritime world is no stranger to its fair share of risks and uncertainties. From accidents at sea caused by human error or natural disasters to geopolitical conflicts that can disrupt global trade, shipowners, operators, and cargo owners face a multitude of challenges. One critical aspect of managing these risks [...]
