08 January 2024
After what has been an overall miserable 2023 in the ship-recycling industry and even worse 6-month tail end of, whereby all of the major ship recycling destinations were swept up in declining vessel prices, a plummeting supply of fresh units, currency depreciations, and rampant global inflation, 2024 seems to be off with just a little more hope and a chance at recovery as positive signs seem to permeate through the markets. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
15 August 2022
Despite all major ship-recycling destinations registering gains in steel plate prices (in unison) and to varying degrees this week, the summer lull continues across the board, with nearly no fresh tonnage to work on and a majority of vessels mooted for a recycling sale (both from Ship Owners and Cash Buyers alike) being converted back to trading again, especially by a re-energized second-hand market. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
20 August 2019
02 May 2018
BIMCO has developed a new standard term sheet for syndicated ship financing (SHIPTERM S) – the first industry standard of its kind for syndicated loans. The term sheet was approved for publication at BIMCO’s biannual Documentary Committee meeting on May 2 in New York.
02 August 2022
Fears and concerns across the sub-continent recycling markets continue to grow as local currencies across all major ship-recycling destinations continue to worryingly depreciate by the day and some even tougher restrictions reportedly set in place on the opening of fresh Letters of Credit (L/Cs) in Bangladesh this week, as the foreign currency crisis in the country deepens further. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
22 May 2012
Crude oil tanker tonnage in the size range from Aframax to VLCC is now recycled at the age of just 21, a level not seen since 1995. The poor freight market now increasingly impacts the segment of more mature tankers, effectively reducing the room for more demolition to balance the market.
28 June 2022
All of the major global recycling markets remain in turmoil for yet another week The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
27 April 2023
The committee held its spring meeting at BIMCO House in Copenhagen to consider ongoing projects and discuss strategy on the association's contractual work.
01 April 2019
After a frantic period of activity through most of March, sales have somewhat slowed this week. Surprisingly, India lost several high profile HKC SoC vessels for green recycling last week, to the only RINA approved yard in Bangladesh. However, given that this yard has taken in its quota, India has managed to get back into the buying this week, with a few interesting (market and private) green recycling sales The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
13 February 2018
Another flat week concluded in the recycling markets The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
