Recycle News

According to GMS’ latest weekly ship-recycling report, the global ship-recycling market faced a tumultuous end to May, driven by rising vessel prices and a shortage of quality tonnage. This situation is expected to persist into June, influenced by several key factors.

Despite minimal volatility, demand from Alang recyclers has driven up local steel plate prices by nearly USD 45/Ton. The increase is due to strong demand for vessels, though the availability of decent-quality...

https://mfame.guru/rising-prices-and-tonnage-shortage-shape-ship-recycling-market/

This week, the Ministry of Transport’s Holding Co. dedicated to Maritime and Land Transport (HCMLT) signed a Memorandum of Understanding (MoU) with the El Wehda Industrial Company to develop a shipbreaking yard based in Damietta Port.

Kamel El-Wazir, the Egyptian Transport Minister, mentioned the collaboration is part of a presidential directive for boosting public-private associations in the transport sector.

It’s aimed at boosting the development...

https://mfame.guru/damietta-port-to-host-egypts-inaugural-vessel-recycling-yard/

• In a bid to revitalize and enhance operations, the Gujarat government is formulating a master plan for the Alang ship-breaking yard, situated on the Gulf of Khambhat coast.
• The Gujarat Maritime Board (GMB) official revealed plans to add 50 plots to the existing 153 at Alang, contributing to a new master plan for the entire region in Bhavnagar district.
• This expansion is expected to double Alang’s ship recycling capacity from 4.5 million light displacement tonnage (LDT) to 9 million LDT.

https://mfame.guru/alangs-ship-breaking-yard-gears-up-for-expansion/

• GMS’s weekly report underscores persistent tonnage scarcity in ship recycling markets, contributing to a week of market inactivity across all recycling destinations.
• Charter rates, especially in the dry bulk sector, remain high, limiting the availability of vessels for recycling.

The Bangladeshi and Pakistani markets experience firm demand and offers, while India exhibits reserved sentiments and pricing. In the container sector, older units find buyers willing to operate them above Opex/Capex...

https://mfame.guru/global-ship-recycling-faces-challenges-amid-tonnage-scarcity/

The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships is set to come into effect on June 26, 2025, marking a significant milestone for the ship recycling industry. However, concerns have been raised regarding potential conflicts with the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and their Disposal. BIMCO, along with other stakeholders, seeks clarity and assurance from the International Maritime Organization (IMO) to...

https://mfame.guru/ensuring-compliance-industry-confidence-in-recycling-standards/

A recent report by the NGO Shipbreaking Platform highlights the challenges faced by Turkey’s ship recycling sector and the potential for sustainable practices. The report emphasizes collaboration, advanced technologies, and improved environmental assessments to create a safer and more eco-friendly industry.

The report emphasizes the need for collaborative efforts to address the environmental challenges in the ship recycling sector. It recommends enhancing Environmental...

https://mfame.guru/a-call-for-sustainable-recycling-practices/

• The Republic of the Marshall Islands has become a contracting party to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (Hong Kong Convention).
• Mr. Nicholas Makar, Deputy Commissioner of Maritime Affairs for the Republic of the Marshall Islands, deposited the instrument of accession with Arsenio Dominguez, Secretary-General of the International Maritime Organization (IMO), at IMO Headquarters in London on 18 January.
• The Hong Kong...

https://mfame.guru/marshall-islands-joins-the-hong-kong-ship-recycling-convention/