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Container ships have reached their highest average age yet at 14.2 years, the highest average age of the three main shipping sectors. The dry bulk fleet has an average age of 11.9 years whereas tankers on average are 12.8 years old.
Starting 31 December 2018, EU-flagged newbuildings must carry out an inventory of hazardous materials on board and carry relevant certification.
As we reflect on the year gone by and look forward to a busier and healthier 2023 for the various recycling destinations, 2022 has been the lowest year for more than a decade across all ship recycling locations. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
As we enter the traditionally quieter monsoon season, it is of little surprise to see recycling markets remaining inert and quiet, with rains / flooding hampering production at yards in Chattogram and Alang labourers returning to their hometowns as recycling activities come to a seasonal crawl. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
The big news this week centered around the decisive steps taken by the Indian government, to approve the implementation of the ‘Recycling of Ships Bill, 2019’ and accession to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
