ship scrapping

Ship Recycling Doubled, 1.5 Lakh New Jobs

  • India aims to attract ships from Europe and Japan for scrapping.
  • Especially in Alang, one of the biggest ship breaking yards of the world.
  • Union finance minister Nirmala Sitharaman said, more vessels would double the recycling which is presently 4.5 million light displacement tonnage (LDT) by 2024.
  • LDT is the weight of the ship after removal of cargo, passengers, crew, fuel, ballast water, internal storage etc.

According to a recent news article published in the The Times of India, ship...

https://mfame.guru/ship-recycling-doubled-1-5-lakh-new-jobs/

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/

Scrapping plans abandoned as ‘aggressive’ box carriers hunt available tonnage

Containership demolition virtually dried up in December as shipowners and carriers deployed all available tonnage to meet surging demand across trades.
Huge spikes in ocean freight rates in the second half of last year and corresponding hikes in charter hire rates enabled previously uneconomic smaller containerships to become sought-after by carriers desperate to plug gaps in their networks and take advantage of the demand boom.
And with low bunker prices, fuel efficiency …

The post Scrapping...

https://theloadstar.com/scrapping-plans-abandoned-as-aggressive-box-carriers-hunt-available-tonnage/

Charter market still soaring: ‘We’ll beat any rate to secure a panamax’

Containership charter rates continue to soar against a backdrop of tight supply across most sectors.
This is reflected in the latest idle tonnage report from Alphaliner showing 23 fewer ships (for 123,462 teu) in the idle fleet.
This is now down to 140 vessels, for 520,831 teu, representing just 2.2% of the global fleet.
The 23 includes 14 vessels undergoing scrubber retrofits “to fill sailing gaps in regular services or perform extra sailings” …

The post Charter market still soaring: ‘We’ll...

https://theloadstar.com/charter-market-still-soaring-well-beat-any-rate-to-secure-a-panamax/

Tanker Scrapping ‘On the Rise’ Amid Dampening Oil Demand

  • The fall in crude oil demand has hit the tanker market hard.
  • The oil price dip led to the surge in Chinese imports and resulted in congestion in Chinese discharge ports.
  • Ship brokers report this is likely to lead to an increase in scrapping.
  • Another trend in the ship scrapping/recycling market, the increasing size of the ships being sold for scrap, was also noted.

Falling crude oil demand puts older tankers at risk, writes Craig Jallal for Riviera Maritime Media.

Dip in global oil demand

The US...

https://mfame.guru/tanker-scrapping-on-the-rise-amid-dampening-oil-demand/

With the charter market still booming, carriers chase ‘any box ship still floating’

Ocean carriers flush with cash after an estimated cumulative $1.8bn Q2 net profit and with even better results predicted for Q3, are targeting the S&P market for quality second-hand tonnage.
MSC, which does not publish results, but as the second-largest carrier can be assumed to be trading highly profitably, has completed the purchase of the 5,456 teu post-panamax SM Tacoma, at a reported $10.5m, from ship recycler GMS.
The 20-year-old ship was …

The post With the charter market still booming,...

https://theloadstar.com/with-the-charter-market-still-booming-carriers-chase-any-box-ship-still-floating/

Scrapyards set for new wave of box ship demolition as idle fleet grows

Demolition markets in the Indian subcontinent have now largely reopened and are preparing for a new wave of containerships for scrapping.
According to London-based shipbroker Braemar ACM, just 14 have been demolished so far this year, compared with 58 ships by the same time in 2019.
However, due to the pandemic, there have been reports of up to 20 ships having been sold for scrap in the interim and now await the …

The post Scrapyards set for new wave of box ship demolition as idle fleet grows...

https://theloadstar.com/scrapyards-set-for-new-wave-of-box-ship-demolition-as-idle-fleet-grows/

Orders for new ships dry up as demand plunges and yards go into lockdown

Ocean carrier fleet expansion is on hold as the liner industry fights for survival amid Covid-19 lockdowns around the world.
According to BIMCO chief shipping analyst Peter Sand, orders to shipyards have fallen significantly across all shipping sectors and comes on top of an already soft market environment.
“Uncertainty about future environmental regulations, as well as lower demand growth outlook in the coming years had many thinking twice before ordering a new …

The post Orders for new ships...

https://theloadstar.com/orders-for-new-ships-dry-up-as-demand-plunges-and-yards-go-into-lockdown/

Bangladesh Court denounces 2016 Maersk’s FPSO illegal beaching

The High Court of the Supreme Court of Bangladesh declared the import, beaching and breaking of the FPSO North Sea Producer illegal, following the NGO’s Shipbreaking Platform member organisation Bangladesh Environmental Lawyers Association (BELA) Public Interest Litigation against the producer.

Accordingly, the Court decided on November 14 that the Producer was conducting illegal operations, violating national and international laws of the shipbreaking industry.

Therefore, the Court passed a...

https://safety4sea.com/bangladesh-court-denounces-2016-maersks-fpso-illegal-beaching/

Shipping recycling updates: What to expect in 2020

Lately the shipping industry has shed its focus on the 2020 sulphur cap, however, other important regulatory updates are expected to become effective from January 1st  as well; for instance in the area of ship recycling, the Inventory of Hazardous Materials (IHM) is going to bring changes for which operators need to be aware of for compliance with the requirements of both Hong Kong Convention and EU-Ship Recycling Regulation.

The Inventory of Hazardous Materials (IHM) is one of the most...

https://safety4sea.com/cm-shipping-recycling-updates-what-to-expect-in-2020/

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