Topic
shipbreaking
Logistics Shipping & Freight #ship-recycling#south-korea
South Korea moves to build one of Asia's largest ship recycling hubs
South Korea's Elegant Exit Company, RM Company, and ISSAC Green Tech have signed an MoU for a large-scale ship dismantling hub, according to Splash247. Japan's NYK and Oono Development are targeting a 2028 recycling startup at Chita. The moves follow the Hong Kong Convention entering into force in June 2025 and South Korea's accession last December.
Aug 7, 2026 1 source
Logistics Shipping & Freight #shipowners#recycling
Shipowners shouldn't assume today's strong recycling market will last, Wirana warns
Limited demolition supply and intense buyer competition have made ship recycling a seller's market, but Wirana Shipping warns owners not to assume it will last. Strong freight markets are keeping older vessels trading, while Red Sea reopening or easing Iran sanctions could flip the balance.
Aug 6, 2026 1 source