The
excitement being generated by an imminent Pakistani reopening for
tankers, coupled with soaring steel plate prices, led to an unexpected
market lift last week.
This was particularly true in a previously dormant Bangladesh, which
started to acquire fresh tanker units at a dizzying rate, GMS reported.
This unexpected and sudden buoyancy from Chittagong was driven by a
short and sharp spike in plate prices, which is not expected to last
very long, whilst Pakistan’s expected reopening for tankers will
probably deprive its competing neighbours of some of their regular diet
of wet units.
Meanwhile, there were several more privately concluded VLCC deals last
week, taking the total number sold to well over 15 within the first two
months of this year. In addition, sales of both Suezmaxes and Aframaxes
were also reported, in what was another bumper week of wet sales to add
to the extremely busy year witnessed thus far.
A Pakistan tanker re-opening - the order for which has been rumoured to
be forthcoming some time this week and will include ‘gas free for hot
works’ certificates from the last port of call - is set to ease some of
the pressure on Bangladesh and India who have been struggling to take in
some of these recently bullish tanker sales. Prices should also be
boosted as a result.
The various holiday periods and TradeWinds recycling conference in
Hamburg this week has taken some of the major players out of the market,
GMS said.
Meanwhile in rather a strange move, on Monday, the lobbyist NGO
Shipbreaking Platform withdrew from the TradeWinds forum. This was in
response to a letter from GMS threatening to sue, unless the Platform
removes all mention of GMS from its website, the NGO said.
Surely the best place to have a constructive argument is at forums like this, where other interests can have their say- Ed.
Danish Shipping said this week that the ship recycling industry is
facing a decisive year, as the EU's so-called white list of approved
recycling facilities is being formulated. The list is due to be
published at the turn of the year.
The EU's white list of approved recycling facilities will be in focus
in the coming period, as the EC has announced two new versions of the
list last March and in the autumn, respectively.
The current list does not provide the sufficient recycling capacity and
should include the best Indian yards to support the positive
development in Alang, Danish Shipping stressed.
"It is crucial to maintain the positive development in a country like
India, where a substantial part of the world fleet is recycled every
year. In this context, the EU's white list can be a great tool and act
as a positive incentive. In addition to this, the current list has the
practical problem that the capacity is insufficient,” said Maria Skipper
Schwenn, Danish Shipping’s executive director.
"It is clear that the EU list is currently completely insufficient and
that including yards outside the EU is a necessity. The European -
including Danish – recycling facilities will be busy with small ships
and in particular with obsolete drilling rigs from the North Sea, so
they will not be challenged by this.
“For the big merchant ships it is crucial that they can be recycled at
the best steel price without compromising on environment and safety,"
she added.
Some 22 yards outside the EU have requested to be included on the EU
white list. This applies, inter alia, to a number of yards in Alang, and
the process of assessing them is in progress, according to the EC.
Brokers have reported that the 2000-built VLCC ‘Greek Warrior’ was
committed for recycling at an unknown price level on the basis of ‘as
is’ Khor Fakkan and ‘gas free for man entry’.
Chinese recyclers were said to have taken the 1998-built MR ‘Fowairat’,
while Bangladesh interests were believed to have agreed to purchase the
1998-built Aframax ‘Pacific Sunrise’ for a high $495 per ldt. However,
this deal includes 1,300 tonnes of fuel ROB, plus 300 tonnes of MGO.
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