January 10th, 20190Calls are growing for Beijing to scrap its ban on importing ships for recycling. Effective January 1, China, the fourth largest shipbreaking nation in the world, has banned all foreign ships from coming to the Asian nation for recycling, one of many industrial measures on scrap products the Chinese government has taken in the past 18...
January 2nd, 20190GMS, the world’s largest cash buyer of ships for recycling, has revealed that there are now 76 yards in India that are compliant with the Hong Kong Convention (HKC) for safe and environmentally sound recycling of ships, including a growing number that have obtained their statement of compliance from various classification...
October 31st, 20180The supply/demand imbalance in the container shipping segment is worsening with Alphaliner reporting 2018 will mark the lowest level of boxship scrapping since 2008, despite a recent pickup in vessels heading for recycling yards.
Alphaliner data shows that this year the container fleet will take on some 1.35m teu in new deliveries, up...
October 29th, 20181Despite China’s imminent exit from the international ship recycling scene, Clarkson Research is reporting a significant uptick of inquiries for green vessel recycling options.
“More owners are making enquiries in relation to this and several are sending delegations to the recycling destinations (mainly in India) to witness...
October 18th, 20180Hundreds of workers protested yesterday at the Gadani shipbreaking site in Pakistan, demanding firm action be taken to improve conditions at one of the most dangerous shipping locations in the world.
Pakistan’s main shipbreaking area suffered another blaze inside a beached tanker, which injured seven workers on Sunday.
Officials...
October 3rd, 20180Costamare has netted a very strong $502 per ldt in offloading a 20-year-old, 3,842 teu boxship to Indian breakers. The 15,864 ldt from the gives Costamare just shy of $8m.
Brokers Braemar ACM explained that the ship had a very large 60 ton propeller, which accounted for the premium in the pricing. Braemar ACM still believes given the...
September 24th, 20180Europe has more than adequate capacity to recycle EU-flagged ships, according to new analysis from the International Ship Recycling Association (ISRA).
At the end of this year a new EU ship recycling regulation will come into force, which stipulates that the recycling capacity to recycle EU-flagged ships should be 2.5m...
August 27th, 20180Liberty House, the UK metals group owned by Sanjeev Gupta, plans to convert struggling ABG Shipyard into a steel plant if his bid to take over the Indian facility succeeds.
Liberty House has emerged as the sole bidder for the Ahmedabad-based yard with local authorities now assessing the bid. Gupta’s plans are to convert the shipyard...
July 17th, 20180A major fire erupted onboard a decommissioned VLCC under demolition at Pakistan’s Gadani recycling area yesterday, just days after the country gave approval to accept tankers for recycling again.
Local police officials said the incident occurred when workers were conducting welding work onboard the vessel. 20 workers were rescued...
July 9th, 20180Just as China has signalled its exit from the international ship scrapping scene, Bangadesh has stepped up to the plate, sealing its first ever deal to recycle a ship to Hong Kong Convention compliant rules.
When Beijing announced it would stop accepting overseas ships for recycling at the end of this year it left a big hole for...
