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New era for ship recycling as Hong Kong Convention enters into force

The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships enters into force on 26 June 2025, establishing mandatory regulations to govern the way ships are recycled.   The Hong Kong Convention, developed under the auspices of the International Maritime Organization (IMO), covers the following:  design, construction, operation and preparation of ships to support safe and environmentally sound recycling;   operation of ship recycling facilities; and   appropriate enforcement mechanisms, including survey, authorization, certification, inspection and reporting requirements.  IMO Secretary-General, Mr. Arsenio Dominguez said:   “The entry into force of the Hong Kong Convention this year marks a watershed moment in our shared objective to promote sustainable and safe ship recycling practices globally. This achievement reflects years of dedicated work and will renew out drive to safeguard human health and the environment in this critical industry.” Addressing hazardous materials and working conditions  Most ships are recycled when they are taken out of operation, with almost all materials and equipment from the ship being re-used or recycled. The Hong Kong Convention addresses key environmental, occupational health, and safety risks involved in the recycling of ships, while distributing responsibilities and obligations across…

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BULK CARRIERS SECOND HAND SALES

NAMEDWT (MT)BUILT/YARDPRICE (USD)BUYERSMOUNT K2176.8202011/JAPAN$26.2MChineseASIAN BLOSSOM181.4942010/JAPAN$28.4MUndisclosedPERMATA12,2552012/JAPAN$8.5MUndisclosedHH DIAMOND20,5561998/GERMANY$4.60MTurkishGREAT ARSENAL26,5661997/JAPAN$4.85MUndisclosedMANTICORE28,1412014/JAPAN$12.5MUndisclosedSTELLAR ALAZANI28,1802014/JAPAN$13MUndisclosedNYMPHI28,2142012/JAPAN$11.5MUndisclosedIVS MAGPIE28,2402011/JAPAN$10.2MUndisclosedKHOI28,3382010/JAPAN$10.7MVietnamAKTEA R28,3722010/JAPAN$10.85MChineseGOLD DUST28,4202012/JAPAN$12MVietnamsNOBLE OAK28,4922005/JAPAN$7.70MUndisclosedITALIDA28,5092009/JAPANLow-Mid $9mUndisclosedUNIVERSE PROSPERITY28,5142001/JAPAN$6.23MUndisclosedTUOJIANG28,5152006/JAPAN$5.37MUndisclosedUNI CHALLENGE                29,0782012/CHINA$11.5MUndisclosedVICTORIA HARBOUR                29,1002011/CHINA$10.5MUndisclosedBLESSING SW29,7472010/JAPAN$8.2MUndisclosedKEN HOU29,7882004/JAPAN$8.6MUndisclosedSOPHIA OCEAN29,9521999/JAPAN$5.5MUndisclosedBELMEKEN30,3472010/CHINA$11.5 MUndisclosedPERSENK30,3612010/CHINA$11.5MUndisclosedCS CAPRICE30,4652010/CHINA$10.8MUndisclosedWUJIANG30,5302003/CHINA$7.5MChinseHG DARWIN31,6422002/JAPAN$8.20MUAETRAWIND WHALE31,7852011/CHINA$10.5MVietnameseNIMBLE NICKY31,8872010/JAPAN$11.20mUndisclosedKEN RYU31,9492002/JAPAN$6.9MChineseMAJESTIC MARINA32,1152009/JAPAN$10.50MVietnameseSTAMFORD PIONEER32,2112012/CHINA$8.50MVietnameseMAGIQUE MARLINE32,2162009/JAPAN$11.50MUndisclosedVIGOR SW32,2282009/JAPAN$13.10MChineseAFRICAN HALCYON32,2452007/JAPAN$10.10MChineseADMIRALTY SPIRIT32,2632004/JAPAN$8MUndisclosedLAGO DI LUGANO32,2712008/JAPAN$11.4MUndisclosedYANGTZE GRACE32,5032012/CHINA$13.5MFar EastSEA SAPPHIRE32,5502010/CHINA$8.50MUndisclosedPAN IVY32,5932010/CHINA$10.3MUndisclosedSIENA32,7442002/JAPAN$5.80MUndisclosedSIENA32,7442002/JAPAN$5.80MUndisclosedMOUNT RAINIER32,8162005/JAPAN$7.90MUndisclosedSTRATEGIC ENDEAVOR33,0782010/JAPAN$7.50MUndisclosedSTRATEGIC ENDEAVOR33,0782010/JAPAN$7.50MUndisclosedZHE HAI 36033,1002010/CHINA$5.42MUndisclosedZHE HAI 36033,1002010/CHINA$5.42MUndisclosedIVS KINGLET33,1322011/JAPAN$12.25MUndisclosedIVS KNOT33,1432010/JAPAN$11.50MUndisclosedGLOBAL AGLAIA33,1582016/JAPAN$19.5MJapaneseNORD COPENHAGEN33,1752012/JAPANLow $14MUndisclosedRIJN CONFIDENCE33,3282013/JAPAN$14.3MUndisclosedANSAC GREEN RIVER33,3582018/JAPAN$20.00MGreeksDINO33,3712009/JAPAN$13.4MTurkishIVS SUNBIRD33,3992015/JAPAN$17.00MUndisclosedAEGEAN SPIRE33,4012008/JAPAN$11.8MUndisclosedATLANTIC BRAVE33,4072016/JAPAN$17.80mUndisclosedCHARANA NAREE33,7202005/JAPAN$10.75MUndisclosedCHAMCHURI NAREE33,7332005/JAPAN$10.5MUndisclosedDL JASMINE33,7372012/CHINA UndisclosedDL LILAC33,7522012/CHINA$25MenblocUndisclosedHUAYANG SUNRISE34,0032011/CHINA$7.46MUndisclosedHUAYANG SUNRISE34,0032011/CHINA$7.46MUndisclosedCELESTE34,2952012/CHINA$11MUndisclosedFOUR OTELLO34,3572010/KOREA$112MGreekYOCHOW34,3982015/JAPAN$19MUndisclosedFOUR NABUCCO34,4032010/KOREA$11.1MTurkishFOUR AIDA34,4082009/KOREA$11MGreekTATE J34,4392012/KOREA$13.80mUndisclosedHILMA BULKER34,5022017/JAPAN$23.5MUndisclosedNORDIC NANJING34,6202013/CHINA$15MTurkishLAVAUX34,7742010/KOREAUndisclosedGreekISA 34,9391999/JAPAN$4.1MUndisclosedBIRTE SELMER34,9762011/CHINA$9.80MUndisclosedBIRTE SELMER34,9762011/CHINA$9.80MUndisclosedDVADESETPRVI MAJ34,9872012/CHINA$10.50MTurkishKOTOR34,9872012/CHINA$10.50MTurkishHAI BAO35,0432010/CHINA$6.89MUndisclosedVEGA DABLAM35,1122011/CHINA$9.75MUndisclosedHAI KANG35,2152010/CHINA$6.77MUndisclosedCABRERA35,7322011/CHINA$14.6MUndisclosedARCTIC OCEAN36,0092010/CHINA$11.6MMiddle EastCLIPPER NASSAU36,1872010/CHINAUndisclosedGreeceDARYA GANGA36,8452012/KOREA$16.2MUndisclosedSTRADION36,8632011/KOREA$13.5MUndisclosedSTRADION36,8632011/KOREA$13.50MundisclosedDENEB HARMONY36,8882020/JAPAN$24MFar EasternDAYDREAM BELIEVER37,1142012/JAPAN$17.6MUndisclosedEFFICIENCY OL37,1302010/JAPAN$15.2MUndisclosedWOOYANG QUEEN37,2182011/JAPAN$13.90MVietnamSUNSHINE37,3172009/JAPAN$15MUAEWELLPARK37,4292014/JAPAN$19.2MUndisclosedBAMBOO STAR37,6092019/JAPAN$28.35MUndisclosedLAGO DI CANCANO37,6662014/CHINA$14MUndisclosedLAGO DI CANCANO37,6662014/CHINA$14.00MundisclosedAMBER STAR37,6922017/JAPANUndisclosedGreekHB GOLDEN EAGLE37,7202020/JAPAN$28.5MUndisclosedBUNUN HERO37,8112015/ JAPAN$18.5MTurkish (Manta)BUNUN HERO37,8112015/JAPAN$18.50MTurkishNORD ABIDJAN37,9792020/JAPAN$25.50MUndisclosedKUJAWY38,8902005/CHINARegion$8MUndisclosedWESTERN PANAMA39,0002015/CHINA$18.6MThaiCIELO DI VALPARAISO39,2322005/CHINA$21.8MUndisclosedHAMBURG PEARL39,3592016/CHINA$17.10MEuropeHAMBURG WAY39,3762016/CHINA$17.10MEuropeNY TRADER III39,3882016/CHINA$17MGermansNY TRADER III39,3882016/CHINA$17MGermansASTON TRADER39,4862017/CHINA$19.00MGreekMAESTRO EMERALD39,8302020/JAPAN$30.3MUndisclosedTAWAKI39,8552014/CHINA$19.8MUndisclosedULTRA BOSQUE40,2612020/CHINARegion $27MUndisclosedHB IMABARI40,3202024/JAPAN$35.35MUndisclosedJIANGSU DAJIN DJHC611540,4002025/CHINA$29.50MChineseJIANGSU DAJIN DJHC611640,4002025/CHINA$29.50MChineseJIANGSU DAJIN DJHC611840,4002025/CHINARegion $30MItalianYASA VIOLET40,5002024/CHINA$34MKoreanYASA DAISY40,5002024/CHINAUndisclosedUndisclosedBH FORTUNE45,6541996/JAPANUndisclosedUndisclosedONE SHINE46,6442000/JAPANXs $5MUndisclosedGUO YUAN 747,2151997/CHINAUndisclosedauctionRASHAD48,3772001/JAPAN$5.2MChineseSANTORINI ISLAND48,5492007/JAPANHigh $12MUndisclosedSSI PRIDE48,6352002/JAPAN$6.20mUndisclosedTAMARACK50,3442003/JAPAN$8.30MundisclosedCL SEVEN50,6302011/JAPAN$14MUndisclosedSEAVENUS50,9132000/JAPAN$6.3MUndisclosedBRIGHT KOWA51,1562012/JAPAN$16MUndisclosedGLOBAL FALCON51,7252010/JAPANMid $15MUndisclosedEQUINOX SEAS52,0092003/CROATIA$8.45MUndisclosedRIVER PEARL52,2232008/JAPAN$12.25MUndisclosedJIN SHUN53,3502007/CHINA$8.00mUndisclosedNEW VENTURE53,3782009/CHINA$9.50mUndisclosedRIVA WIND53,5332005/CHINA$7.75MChineseSPAR LYRA53,5652005/CHINA$10.3MChineseMAGNUM FORCE53,6302008/CHINA$11.8MUndisclosedLORENTZOS53,6882005/CHINA$9MUndisclosedAVIGATOR53,8062002/CHINA$6.20MChineseDESERT SYMPHONY53,8202007/CHINA$11.45MUndisclosedLOWLANDS OPAL55,3812007/JAPAN$11.40mChineseTAI HUNTER55,4182007/JAPAN$14.5MChinseGENCO WARRIOR55,4352005/CHINA$12MChinsePRABHU MIHIKAA55,5572005/JAPAN$11.85MUndisclosedPRABHU MIHIKAA55,5572005/JAPAN$10MVietnamsBRIGHT HERO55,6252010/JAPAN$16MChineseSENANUR CEBI55,6602011/KOREA$16.75MIndonesianPARO55,6912009/JAPANHigh$14MChineseDALIAN STAR55,8022017/JAPANExcess $26MDanishNEW BOUNDARY55,8202015/JAPANUndisclosedUndisclosedAULAC VANGUARD55,8482012/JAPAN$18.8MGreeceLISTA55,8682011/JAPAN$16.5MUndisclosedIVY BLUE55,8852011/JAPAN$15.50MVietnamsYASA PEMBE55,9122007/JAPAN$12.25MUndisclosedYASA PEMBE55,9122007/JAPAN$12.25MUndisclosedNORDIC BC KIEL55,9472010/JAPANHigh $14MChineseIMPERIAL EAGLE55,9892010/JAPAN$18MUndisclosedYASA AYSEN56,0422007/JAPAN$14.3MAsianORION 56,0712007/JAPAN$10.5MChineseND ARMONIA56,1212011/JAPANRegion $18MFar EasternNORDIC STAVANGER56,1722011/JAPAN$18MUndisclosedV RICH56,5462014/CHINAHigh $18MGreekMOANA BAQ56,6252012/CHINA$13.25MMalaysianPROTECTOR ST. GEORGE56,6322011/CHINA$14MUndisclosedCS SONOMA56,7042010/CHINA$11.4MUndisclosedCS SONOMA56,7042010/CHINA$11.30mfar easternGRUAUD LAROSE56,7292011/CHINAMid-High $12MUndisclosedEPIC TRADER56,7782012/CHINA$13.00MChineseFLC LONGIVITY56,7852009/CHINA$11.8MUndisclosedFLC LONGIVITY56,7862009/CHINA$11.5MUndisclosedLASCOMBES56,8012011/CHINAMid-High $12MUndisclosedTRISTAR PROSPERITY56,8242012/CHINA$15MUndisclosedNS DALIAN56,8412010/CHINA$9.9MChinesePROTECTOR ST. RAPHAEL56,8732010/CHINA$11MUndisclosedINCE AKDENIZ56,8772010/CHINAUndisclosedUndisclosedJIN JUN56,8872009/CHINA$11.00MUndisclosedPAN RAPIDO56,9152011/CHINA$11.4MUndisclosedJIN GANG56,9282009/CHINA$10.8MSporeansBAO QUAN56,9472011/CHINA$13.7MUndisclosedSEACON 857,0002012/CHINA$14.13MUndisclosedFLC CELEBRATION57,0002011/CHINA$11.20MUndisclosedFLC…

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Iron Ore Shipments Fall 7%

Global iron ore shipments have fallen 7% y/y, during the first seven weeks of 2025, amid supply disruptions and weak Chinese import demand. Australian cargoes have fared the worst, down 10% y/y while shipments from Brazil have weakened by 5% y/y. “The comparatively stronger Brazilian shipments are boosting average sailing distances, but tonne mile demand is nonetheless estimated to have taken a 6% fall y/y,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO. The weakness of iron ore shipments this year has intensified this past week in particular. A cyclone forced Australia’s largest iron ore port to close for three days, causing Australian shipments to drop 55% y/y. Brazilian shipments have also slowed, partly due to a fire in Vale’s facilities in port Tubarão. During the previous weeks, global iron ore shipments fell 1% y/y. “The weakening in iron ore shipments has contributed to a slump in freight rates. So far this year, the Baltic Dry Index (BDI) has on average been down 44% y/y. Furthermore, the capesize segment has performed even worse, with rates taking a 55% y/y hit,” says Gouveia. Iron ore is the largest dry…

Continue ReadingIron Ore Shipments Fall 7%