RECYCLING

India’s ship recycling industry is expected to grow to 3.8-4.2-million GT (gross tonnage) in 2025, as against an estimated 2.3-2.6-million GT in 2024, according to a report, reports Business Standard.

According to CareEdge, India accounts for 33 per cent of the global gross tonnage dismantled in 2023, second only to Bangladesh, which handled 46 per cent.

The ship recycling industry in India is expected to grow at compound annual growth rate of around 10 per cent in CY26-CY28,...

https://mfame.guru/ship-recycling-industry-likely-to-grow-to-3-8-4-2-mn-gt-in-2025/

Only 2 million dwt of ship capacity was recycled in Q1 2024, according to trade association Bimco. ‘Over the past eight quarters, ship recycling of bulkers, tankers and container ships has dropped to the lowest level in 20 years,’ it reports.

Ship recycling experts will discuss the future of the sector at a dedicated conference, The Ship Recycling Lab, in Lisbon, Portugal, on 9-10 October.

The event will be hosted by the NGO Shipbreaking Platform, which fights against...

https://mfame.guru/setting-the-bar-higher-for-modern-day-ship-recycling/

Over the past eight quarters, ship recycling rates for bulkers, tankers, and container ships have plummeted to their lowest levels in two decades. A combination of factors, including strong market demand, low order books, and ongoing geopolitical tensions, has led to a prolonged period of minimal ship dismantling activity.

Factors Driving Low Ship Recycling Rates:

• Strong demand following market shocks, such as sanctions on Russian exports and changes in consumer behaviour during the COVID-19...

https://mfame.guru/the-future-of-ship-recycling-trends-and-projections/

According to GMS’ latest weekly ship-recycling report, whilst various port positions remained thinned out across the Indian sub-continent ship recycling waterfronts over recent weeks, many of the tired old complaints about poor & adverse market conditions (particularly in India) or those of an extremely malnutritioned spread of recycling tonnage that remains available for sale, continue to fall on deaf ears, says an article published on safety4sea website.

• GMS’ ship-recycling report...

https://mfame.guru/challenges-persist-in-ship-recycling-markets/

• In a push for unified regulations, the Hong Kong International Convention (HKC) emerges as the crucial framework for sustainable ship recycling.
• HKC’s role includes ensuring clarity, compliance, and environmental sustainability in the maritime industry.

The maritime industry’s commitment to sustainability and environmental responsibility hinges significantly on the effective regulation of ship recycling. Among the pivotal frameworks poised to shape this sector is the Hong Kong International...

https://mfame.guru/hkc-the-key-to-sustainable-ship-recycling/