Search results for: scrapping

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  • 30 April 2019
    Business & Finance

    Drewry: More containerships are expected to be demolished as IMO 2020 implementation date approaches.

  • 3 May 2017
    Business & Finance

    Danish container shipping giant Maersk Line sent a total of seven Panamax vessels to ship recycling yards during the first quarter of this year. Four of these boxships, between 19 and 21 years old, were sent to China. They are being recycled by Jiangyin Xiagang Changjiang Ship Recycling, a representative from Maersk told World Maritime News. […]

  • 10 September 2015
    Business & Finance

    Steady demand in the second hand market has saved some of the older container ships from the breaking yard, including tonnage initially intended to be sold to scrap buyers, but eventually acquired for further trading as the charter market staged a mini recovery earlier this year, according to shipping industry analyst Alphaliner. The total capacity […]

  • 25 April 2018

    The rebalancing of the tanker market requires further affirmative action in reducing older tonnage.

  • 20 February 2018
    Business & Finance

    The only light at the end of the tunnel for large tankers seems to be scrapping.

  • 9 April 2018
    Business & Finance

    Tanker scrapping increased significantly in the first quarter of 2018.

  • 15 June 2015
    Exploration & Production

    Offshore drilling industry is on the verge of the largest ever retirement cycle in history, as 88 units within the floater market will have to be taken out between 2015 and 2017, Rystad Energy, an oil and gas consultancy firm has reported. Research shows that this retirement is a consequence of demand reduction from 262 units in 2014 […]

  • 10 September 2015
    Business & Finance

    Steady demand in the second hand market has saved some of the older container ships from the breaking yard, including tonnage initially intended to be sold to scrap buyers, but eventually acquired for further trading as the charter market staged a mini recovery earlier this year, according to shipping industry analyst Alphaliner. The total capacity […]

  • 22 January 2016

    Dry bulk shipping capacity of 40 million DWT will be sold for demolition during 2016, making this year the busiest year on record for shipbreaking, according to BIMCO’s forecasts. The prediction comes on the heels of a yet another miserable year start for the industry sector with eroding freight rates ranging from USD 3,361 per […]

  • 19 February 2013

    Drewry’s latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk market wallows in the doldrums. A ship as young as 15 years has already been sold for scrap in recent months, and the average scrapping age of Chinese-built Capesizes was 21 years in […]

  • 30 January 2012

    Mitsui O.S.K. Lines, Ltd made decision to scrap five double-hull tankers (four VLCCs, one Suezmax) by the end of March. Scrapping of two vessels is already completed, and preparations are under way to start dismantling the other three. All five tankers were crude carriers launched before 1998. MOL, as one of the world’s leading crude […]

  • 18 February 2013

      Drewry’s latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk market wallows in the doldrums. A ship as young as 15 years has already been sold for scrap in recent months, and the average scrapping age of Chinese-built Capesizes was 21 years […]

  • 5 March 2020

    Poor bulker markets have pushed owners to scrap 20 Capesize bulkers so far this year.

  • 14 April 2015
    Business & Finance

    Hong Kong-listed shipping company China COSCO Holdings Company Limited Group (COSCO) has disassembled fourteen vessels, including one containership and thirteen bulk carriers, from 1 February 2015 to 31 March 2015 within its fleet renovation plan. The vessels, with the aggregate capacity of 924,700 deadweight tons, were disposed of as scrapped vessels to different purchasers at […]

  • 15 May 2018

    Owners continue to commit their Very Large Crude Carriers (VLCC) for recycling.

  • 14 November 2016
    Business & Finance

    Given the orderbook, the tanker market is expected to experience ample supply growth in the coming years while the forecasts for tanker demand growth are rather subdued, according to Poten & Partners. In recent years, tanker sales for scrap have been “few and far between,” while the average age of tankers that are sold for demolition is […]

  • 31 July 2019

    The number of containerships scrapped in 1H 2019 rose by 379 percent, compared to 1H 2019.

  • 13 June 2012
    Business & Finance

      Mitsui O.S.K. Lines, Ltd. today announced plans for scrapping or cold lay-up of 10 to 20 Capesize bulkers in consideration of this fiscal year’s worsening market trends. The company scrapped four vessels and temporarily laid up 10 others last year. Until now, the company scrapped Capesize ships that were past 23 years or older, […]

  • 11 January 2017

    The 2010-built Hammonia Grenada has become the youngest containership sold for demolition, according to data provided by VesselsValue.  The Panamax boxship, owned by German company Hammonia Reederei, was sold for USD 315/ldt (leight displacement) and sent to an unknown ship recycling yard. The 4,256 TEU ship was built by Chinese shipbuilder Jiangsu New Yangzijiang. Market value of […]

  • 14 November 2016
    Business & Finance

    Amid a record year for containership demolitions in 2016, which helped suppress total fleet growth close to the rate for demand, shipping consultancy Drewry said that the scrapping candidates will get younger and bigger until the market recovers. Greater scrapping is a sign of the underlying weakness in the container market, and for its benefits […]

  • 7 March 2016

    The first 3 months of 2016 are shaping up to be the busiest quarter on record for bulk carrier demolition as owners fight to restore balance in supply-demand capacity, data from Clarksons Research shows. In the first 9 weeks of the year, 120 bulk carriers of 10.1m dwt have been reported sold, a pace that, […]

  • 18 April 2016

    Containership scrapping is expected to intensify in 2016 as charter market demand for Panamax ships is bound to remain muted based on the recent forecast from Drewry. Drewry bases its argument on the rising demolition prices for scrapping which were kept pretty low throughout 2015. Hence, the amount of scrapping halved in 2015 with only about 195,000 […]