Outlook of South Asian Shipbreaking Industry

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

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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

 

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