BIMCO has launched its fourth industry film, calling for the urgent adoption of the Hong Kong International Convention for the safe and Environmentally Sound Recycling of Ships, and for ship owners to only choose yards that live up to the convention.
BIMCO's position has been approved by the BIMCO Board of Directors.
We estimate that dry bulk supply will grow by 3-4% in 2024 and 2-3% in 2025 and 2026. The dry bulk fleet is forecast to grow by 3% on average in 2024 and in 2025 and by 2.6% in 2026. Stable deliveries and increased recycling will slow fleet growth. Ship deliveries are estimated to reach 34.2, 34.5 ... Please follow the link to continue reading.
During 2024, the supply/demand balance has improved and the full year is expected to end stronger than 2023. However, in our main scenario we expect a weakening of market conditions in 2025 and 2026. For both years we are working with two demand scenarios depending on when ships can fully return to... Please follow the link to continue reading.
A report commissioned by BIMCO shows that while the EU list of approved ship recycling facilities continues to grow, new additions have not added significant capacity to meet the demands of the global shipping industry. Therefore, BIMCO believes focus must shift towards adding facilities outside of ... Please follow the link to continue reading.
Only nine shipyards, out of 26, on the EU list of approved recycling facilities are realistically open for ship recycling, and only three of the 26 could recycle a large ship (Panamax size or larger), a study commissioned by BIMCO shows.
Shipping companies are being strongly encouraged to use new ‘Transitional Measures for Shipowners Selling Ships for Recycling’ launched by a wide coalition of international shipping industry organisations.
Since the beginning of 2019, the EU has had its own set of rules for ship recycling. The rules may even influence shipowners not using an EU flag.
An updated Report on the European list of ship recycling facilities, commissioned by BIMCO, shows progress in increasing the number of active yards on the list, but the rules still don’t reflect commercial realities and lags behind on capacity to scrap large commercial ships.
A comprehensive overview of the recent global roundtable discussions on ship recycling during London International Shipping Week.
