Topic
shipbreaking
Logistics Seven Workers Dead in Toxic Gas Leak at Bangladesh Shipbreaking Yard
Seven workers died in a toxic gas leak at Ferdous Steel Ship Recycling Industries in Bhatiyari, Sitakunda, Bangladesh, according to Splash247. Two died at the yard and five at Chattogram Medical College Hospital. Bangladesh's Department of Inspection for Factories and Establishments is investigating the cause and the adequacy of safety measures at the Hong Kong Convention-authorised facility.
Logistics 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.
Logistics 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.