Highlights

1. Development strategy of ship recycling industry
2. Popularization of green ship recycling industry
3. Cooperative platform between ship owners and ship recyclers
4. Boost cooperation in global ship recycling industry
5. Reduce impact of financing limit, steel scrap price cut and currency depreciation
6. Impact of IMO ship recycling convention to ship recycling industry

Background

International Marine time Industry was dampened amid financial crisis. Ship owners and marine companies sold demolitions and scrape ships, given overcapacity of vessels, a push to global demolition trade. Ship recycling industry embraces spring. Ships recycled worldwide in the first week 2009 reached 25, a new weekly record in the past 20 years. Aggregate ship recycling volume in January 2009 was 82. Insiders expected over 1,000 ships to be dismantled throughout 2009. Ship-breaking yards in key ship-breaking area, such as India, Pakistan and Bangladesh in South Asia countries, will deal with various ships in an astonishing volume. Ship recycling industry foresees a boom in next two years. Ship recycling in 2009 is likely triple over 2008, while China, Turkey and other European countries enter the market.