Scrapping

Ship Owners Tempted To Take Advantage of the Strong Offer Demolition Prices

According to Clasrksons, scrapping activity to be driven this year by the accelerating ‘green transition’, says an article published in Splash 247.

Jumping prices

A busy start to the year, led principally by eager Bangladeshi yards, has seen prices jump above $450 per ldt with many owners now actively rethinking recycling plans to take advantage of the strong prices on offer.

“Now it seems a question of when not if we break through the $500 / ldt in the coming weeks,” brokers Thurlestone noted in...

https://mfame.guru/ship-owners-tempted-to-take-advantage-of-the-strong-offer-demolition-prices/

What Does Shipping Industry’s Climate Clash Over IMO Deal Reveal?

The world unites to swiftly and strictly limit carbon emissions from ocean shipping. Only the cleanest new ships are built, limiting future capacity. Dirty old ships are rapidly scrapped. Cargo shippers and trade-dependent nations willingly pay the cost of decarbonization. Freight rates and shipowner stock returns are boosted for decades to come …

Anyone who still believes this fantasy should pay closer attention to the fierce battle underway at the International Maritime Organization (IMO) in...

https://mfame.guru/what-does-shipping-industrys-climate-clash-over-imo-deal-reveal/

Recycling Ban Temporarily Suspends Scrap Exports

  • The Bureau of International Recycling has alerted its members.
  • It announced that the UAE will suspend exports of ferrous scrap and recovered paper.
  • The operations remain suspended from the beginning of May 15 for four months.
  • It is designed to strengthen the UAE domestic supply in the face of economic uncertainty.

According to an article published in Recycling Today, the Bureau of International Recycling (BIR), based in Brussels, has alerted its members that the United Arab Emirates (UAE) will...

https://mfame.guru/recycling-ban-temporarily-suspends-scrap-exports/

COVID19 To Take A Toll on Global Fleet Growth As Scrapping Decline!

Shanghai Shipyard

According to a Lloyd’s List article written by Adam Sharpe, floating storage was at record high last week as tanker rates slide while port calls in China show further decline than 2019 figures.

Market Dynamics in the Coming Days

Around 220 fewer ships will be delivered to the global market in the 2020-24 period than in the preceding five years, according to new data from Lloyd’s List Intelligence,

while the number of vessels scrapped in the opening four months of this year has fallen by 42%...

https://mfame.guru/covid19-to-take-a-toll-on-global-fleet-growth-as-scrapping-decline/

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