Global: Given the anticipated 20%
reduction in this year's shipbreaking activity, the record set in 2012 already
seems like a far-away memory, according to Wirana Shipping Corporation.
At the recent Marine Money
Conference in the Greek capital Athens, the company pointed out that the
shipbreaking industry went from recycling a 'meagre' 300 ships in 2009 to
selling for scrap over 1300 vessels in 2012; as a result, the demolition market
advanced from a US$ 1 billion annual turnover to a 'massive' US$ 6 billion.
But latest available figures,
covering this year's January-September period, tell a drastically different
story: India, for example, has seen a decline from 4.4 million LDT in 2012 as a
whole to just 2.35 million LDT so far in 2013. India has received just 250
vessels to date in 2013 compared to more than 500 last year.
Meanwhile, Bangladesh and
Pakistan are expected to sustain a 20% drop in shipbreaking activity when
compared to last year. Wirana cited deflating steel prices in local markets,
ongoing oversupply in the global fleet and steady orders for new fuel-efficient
vessels as the 'hard realities' of the marketplace.
The
'balancing factor'
It added: 'In 2012 alone, 213 Capesizes
were delivered; against that, only 73 were scrapped. In 2013, only 30 were
scrapped til August, with deliveries lower, but still about 69 Cape+VLOC
vessels were delivered.' Recycling should be the 'balancing factor', said
Wirana, but 'recycling numbers have dropped and the agony seems to be getting
prolonged'.
Based on the recent spike in dry
charter rates, total scrapping by the year-end will be 'even slower', the
company added.
Source:
recycling international. 24 October 2013
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