COSCO
SITC
PACIFIC LINES
Wednesday, 31/01/2024, 23:55 (GMT +7)
559
Red Sea crisis affects old ship recycling market
The crisis in the Middle East and the decision by many shipowners to reroute ships around the Cape of Good Hope is consolidating the market and keeping freight rates skyrocketing, which is affecting the market for recycling old ships.
Workers recycle old ships (Photo: GMS)
This comes at a time when many expect dry bulk and container shipping to ease as deliveries continue to arrive and with the Lunar New Year approaching next month, GMS, the world's largest buyer of end-of-life ships, said in its latest report on the recycling market.
Bangladesh and Pakistan have both become signatories to the Hong Kong Convention in 2023. There is likely to be facility upgrades in both countries and Norway, along with the IMO, has committed to funding the recycling sector of Bangladesh. This follows financial support from the Japanese Government and the Japan Shipowners’ Association last year.
Overall, the market in the subcontinent remains quiet and price increases are unlikely before the Lunar New Year, GMS said. Two MSC container ships recently arrived at Alang, a continuation of the container line's major handling program over the past year. MSC is said to have sold more than 15 ships since January 2023.
The 12,677 ldt MSC Jemima, built in 1994, arrived at Alang on 24 January and the 6,878 ldt MSC Eagle F, built in 2000, arrived on 26 January.
Meanwhile, recycling yards in Türkiye remain quiet.
In the fourth week of the year, Bangladesh ranked first, with typical prices of $550 per ldt for containers, $530 for tankers and $510 for bulk carriers. The market there is improving, GMS said. Next is Pakistan, with popular prices down about 10 USD and sentiment also improving. India follows at around $20 with a weak market. A similar situation prevails in Türkiye, where regular prices are 360 USD, 350 USD and 340 USD respectively.
Read more:
Source: Phaata.com (According to Seatrade Maritimes)
Phaata.com - Vietnam's First International Logistics Marketplace
► Find Better Freight Rates & Logistics Services!
Featured News
- Hapag-Lloyd applies Peak Season Surcharge from East Asia to USA and Canada
- The world\'s largest container ships MSC Irina and MSC Loreto floated
- MSC (Mediterranean Shipping Company) - The world\'s leading container shipping lines
- Information you need to know about Maersk Line
- Top 10 export and import goods between Vietnam - Philippines in the first 5 months of 2020
Market News
See more
.webp)
HOT PROMO
See more
0
Other
Expiry date
INTERLOG CORP - CÔNG TY CỔ PHẦN GIAO NHẬN TIẾP VẬN QUỐC TẾ
Verified
1.3
2949
Other
Expiry date
CÔNG TY TNHH DỊCH VỤ LOGISTICS BẢO VẬN
2.6
1896
FCL
23 Days
Freight cost
Expiry date
NP LOGISTICS CO.,LTD
2.5
42
Other
Expiry date
INTERLOG CORP - CÔNG TY CỔ PHẦN GIAO NHẬN TIẾP VẬN QUỐC TẾ
Verified
1.3
92
FCL
25 Days
Freight cost
Expiry date
 Nền Trắng.webp)
CÔNG TY CỔ PHẦN THT CARGO LOGISTICS
0.2
WHY PHAATA.COM?
USERS/MONTH
LOGISTICS COMPANIES
REQUEST FOR QUOTEŚ
QUOTATIONS
VIETNAM LOGISTICS COMMUNITY
5 Steps to Get the Best Quote
Find price quickly
and
Send quote request
Compare Quotes
and
Selection
Contact for Further Consultation
and
Send request booking
Get feedback
and
Direct Negotiation
Management
and
Evaluate
Freight rates
Sea freight
5
Days Direct
- ₫3,927,300 / 20'GP
- ₫7,854,600 / 40'GP
- ₫7,854,600 / 40'HQ
Valid till: 2026-02-15
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
3.5
7
Days Transit
- ₫7,915,500 / 20'GP
- ₫11,873,250 / 40'GP
- ₫11,873,250 / 40'HQ
Valid till: 2026-02-28
CÔNG TY TNHH SHIP LINK VIỆT NAM
0.4
6
Days Direct
- ₫3,957,750 / 20'GP
Valid till: 2026-02-15
CÔNG TY QUỐC TẾ MEGA
2.7
20
Days Transit
- ₫21,503,775 / 20'GP
- ₫26,648,850 / 40'GP
Valid till: 2026-02-27
Chi nhánh tại Khu vực Bắc Bộ - Công ty TNHH Giao nhận vận chuyển Quốc tế Trường Hải
3
25
Days Direct
- ₫36,557,000 / 20'GP
- ₫46,288,000 / 40'GP
- ₫46,288,000 / 40'HQ
Valid till: 2026-01-31
SOV（越南海光）
0.1
3
Days Direct
- ₫0 /cbm
Valid till: 2026-01-31
WR1 MASTER CONSOL
Verified
2.1
8
Days Direct
- ₫0 /cbm
Valid till: 2026-02-01
CÔNG TY TNHH VẬN TẢI BIỂN MINH NGUYÊN
0.1
19
Days Direct
-
Refund
₫1,978,875 /cbm
Valid till: 2026-01-31
CÔNG TY TNHH VẬN TẢI BIỂN MINH NGUYÊN
2.6
30
Days Direct
- ₫1,055,400 /cbm
Valid till: 2025-12-31
CÔNG TY TNHH THƯƠNG MẠI DỊCH VỤ 3N
0
30
Days Transit
- ₫1,319,250 /cbm
Valid till: 2025-12-31
KHAI MINH GROUPS CO., LTD – Ho Chi Minh Branch
2.6
Air freight
1
Days Direct
- 49,438 ₫/kg
Valid till: 2026-01-31
CÔNG TY TNHH EVERGLORY LOGISTICS VIỆT NAM
2.6
7
Days Transit
- 139,841 ₫/kg
Valid till: 2026-01-31
CÔNG TY CỔ PHẦN DỊCH VỤ VÀ HẠ TẦNG Ô TÔ THÀNH CÔNG
1.9
4
Days Direct
- 212,399 ₫/kg
Valid till: 2026-01-17
AN BÌNH EXPRESS
2.6
4
Days Transit
- 97,625 ₫/kg
Valid till: 2026-01-31
MAXTENA SHIPPING&FORWARDING AGENT CO., LTD
2.7
1
Days Direct
- 65,963 ₫/kg
Valid till: 2026-01-10
TTL Cargo Max
2.6
Rail freight
20
Days Direct
- ₫192,610,500 / 40'HQ
Valid till: 2026-01-31
CÔNG TY CỔ PHẦN VẬN TẢI VÀ THƯƠNG MẠI ĐƯỜNG SẮT
Verified
3.8
3
Days Direct
- ₫11,236,500 / 20'GP
- ₫14,982,000 / 40'GP
- ₫14,982,000 / 40'HQ
Valid till: 2025-09-30
SilverSea Co.,Ltd
2.5
26
Days Transit
- ₫170,836,600 / 40'GP
- ₫170,836,600 / 40'HQ
Valid till: 2024-12-31
WORLDLINK LOGISTICS VIET NAM COMPANY LIMITED
1.8
10
Days Direct
- ₫25,502,000 / 20'GP
- ₫25,502,000 / 40'GP
- ₫25,502,000 / 40'HQ
- ₫25,502,000 / 45'HQ
Valid till: 2024-12-31
VIPUTRANS
1.8
3
Days Direct
- ₫17,620,110 / 40'HQ
Valid till: 2024-10-31
CÔNG TY CP PROSHIP
1.8
Road freight
6
Hour
- ₫3,600,000 / 20'GP
- ₫4,100,000 / 40'GP
- ₫4,100,000 / 40'HQ
Valid till: 2026-01-31
CÔNG TY CỔ PHẦN THƯƠNG MẠI VÀ TIẾP VẬN ĐẠI DƯƠNG
0.6
1
Day
- ₫4,100,000 / 40'GP
Valid till: 2026-02-18
CÔNG TY TNHH THƯƠNG MẠI DỊCH VỤ 3N
0
9
Hour
- ₫15,039,450 / 20'RF
Valid till: 2025-11-30
Headway Joint Stock Compnay
3.5
2
Day
- ₫60,000,000 / 20'GP
- ₫80,000,000 / 40'GP
- ₫80,000,000 / 40'HQ
- ₫80,000,000 / 45'HQ
Valid till: 2026-10-31
CÔNG TY CỔ PHẦN MORNING LOGISTICS
2
1
Day
- ₫4,500,000 / 40'HQ
Valid till: 2025-09-30
CÔNG TY TNHH LOGISTICS FV
2.5
Request For Quotes
Help you send and receive quotes from Forwarders on the market quickly and efficiently.
See more
