Bangladesh has remained largely quiet for much of the week as they observe the ongoing price reductions, whilst local Recyclers expect further falls ahead.

Indian steel plate prices have declined by nearly $45/LDT over recent weeks, leaving Alang Buyers rather spooked and fearful to maintain previous offers, or even consider offering on any fresh units. Yet, as the week drew to an end, there were signs of a slight rebound on steel prices and sentiment.

Of course, it may still take a couple of weeks of stability before end Buyers return to the bidding tables once again. Notwithstanding, the market appears to have peaked at these exceptional numbers above $600/LDT and end buyers are struggling to reconcile themselves with fresh purchases at these impressive levels.

Many expect a weaker market going into 2022, but the industry overall has been surprised by the continued performance of the market through the course of the year, as prices have surged above and beyond all expectations, having more than doubled from a low of almost $250/LDT through the halfway point of 2020.

Pakistan remains stranded on the sidelines, watching market developments in both India and Bangladesh, hoping to get hold of a bargain or two, even though the supply of vessels for recycling remains remarkably sparse.

On the Turkish end of things, despite demand remaining firm, the dearth of supply has kept local yards increasingly eager for tonnage, while the Lira breaks even more records against the U.S. Dollar.

For week 48 of 2021, GMS demo rankings / pricing for the week are as below.

Source: www.marinelink.com

Image: www.pexel.com

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Nuclear Transport Solutions (NTS), which operated Oceanic Pintail, set Dales Marine Services the challenge of ensuring 98% of the world-class cargo vessel was reused.

Applying a number of innovative techniques, the Scottish firm exceeded expectations, and recycled every part of the Nuclear Decommissioning Authority-owned (NDA) Oceanic Pintail, by:

–              Separating different oils from water, and using the soil as furnace fuel

–              Converting insulation into electrical energy

–              Crushing concrete and tiles to create material used in the construction industry

Reusing 100% of a nuclear vessel is a UK first, and supports both the NDA group and Government’s carbon net-zero ambitions.

Peter Buchan, NTS’s Shipping Director, said: “NTS takes its environmental responsibilities seriously, so we’re delighted that 100% of Oceanic Pintail has been recycled.

“We set our contractors, Dales Marine, an incredibly ambitious recycling target. They took that challenge and set the standard for others to follow when it comes to decommissioning vessels.

“It’s a fantastic achievement, especially considering the work was completed in the middle of the Covid-19 pandemic, so a lot of thanks must go to everyone who has played a role in ensuring this project has been a huge success. Oceanic Pintail served the UK with distinction and this is a fitting end to its life.”

While David Peattie, Group Chief Executive of the NDA, also praised the environmental success. He said: “The NDA group is committed to supporting Government goals to be carbon net-zero by 2050. This fantastic achievement in recycling 100% of Oceanic Pintail supports our ambitions to reduce our carbon impact.”

Boasting a perfect safety record, the Japanese-constructed Oceanic Pintail first set sail 33 years ago.  Since its maiden voyage, Oceanic Pintail has served customers from across the world with bespoke solutions to all specialist nuclear transport challenges, until its final journey to Dales Marine’s Leith dock in November 2020.

Efficient and ethical ship recycling is a costly business, with the South Asian beaches unfortunately still being the major destination for end-of-life vessels. But projects such as Oceanic Pintail act as a valuable demonstration and beacon of hope on what can be achieved.

Source: www.maritimejournal.com

Image: www.pexels.com

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