The scrapping of idling offshore vessels in order to clear the surplus capacity is unlikely to happen, given the low scrap value of the ships and resistance by the asset stakeholders to take a loss, according to Swire Pacific Offshore (SPO).
The Hong Kong Convention (HKC) for the Safe and Environmentally Recycling of Ships will have received a much needed endorsement with the recent reports that Maersk Line has elected to send some of their redundant ships to “compliant” shipyards in...
Vessel cash buyers Wirana Shipping Corporation has welcomed Maersk Line’s recent decision to engage four Hong Kong Convention (HKC) compliant shipbreaking yards in Alang, India to recycle ships.
Panama, the world’s largest ship registry says it has begun the accession process for the Ballast Water Management (BWM) and the Hong Kong Conventions.