In the global shipbreaking market, South Asia has been referred to as the “World’s Ship Scrapping Yard”, with India, Bangladesh and Pakistan collectively dismantling and processing 73% of the total scrapped vessels dismantled globally in FY 2020 (Apr’19-Mar’20). As the recent turn of events amid ongoing pandemic pulled down scrapped vessel prices to record 5-year low, let us listen from the major ship recyclers from these 3 markets and ship management firm come together to discuss the impact of the pandemic on the industry, demand-supply scenario, labour issues, new policies, shift to green recycling, price scenario and outlook for H2 2020.
Date & Time:
June 25, Thursday at 12:30 PM (IST), 3:00 PM (Singapore time), 11:00 AM (Dubai time)
Panellists:
- Mr Gaurav Mehta, Director, Priya Blue Industries Pvt. Ltd., India
- Mr Arif Dar, Director, Venture Green Recyclers, Pakistan
- Mr Sartaj M Imran, Deputy Managing Director, Simni Ship Recycling Industries, Bangladesh
- Capt Siddharth Derashri, Director, Machtrans Ship Management Pvt. Ltd., India
Key points of discussion:
- The impact of COVID-19 on shipbreaking in Bangladesh, India and Pakistan
- Steps being taken for coming months, by ship-breakers, as well as authorities
- Issues like labour availability, restrictions in previous months on vessel imports, breaking activities etc
- Demand situation of shipyard scrap in the steel market, and scrap availability
- New policies and recent budget
- Price scenario of fresh vessels booking (containers & tankers)
- Price scenario for shipyard scrap and outlook for H2 2020