Ship Recycling Forum tackles market turbulence.

Cash buyers and demolition brokers will try to make sense of ‘the most temperamental market in recent memory’ at the TradeWinds Ship Recycling Forum, taking place in Dubai March 7-8, 2016.

The meeting takes place as a record number of dry bulk vessels find themselves on the scrap list and cash buyers struggle to find recyclers offering firm prices in a falling market.

Reading like a ‘who’s who’ of ship demolition, the topical two-day programme reflects current challenges and promises valuable insights into major questions facing the industry. Among those, Chief Economist at Indian Ministry of Steel, Dr Ahmed Firoz will present ‘Biting the billet: how Chinese billets and semi-finished steel is changing the market’, an issue considered by most to be fundamental in dragging scrap prices down globally.

Ever mindful of pitfalls that can trip up demo deals, practical guidance for shipowners and shipbreakers keen to reduce their risk exposure is provided by Stephenson Harwood Middle East Managing Partner, Rovine Chandrasekera with a presentation entitled ‘Top tips for ship sale decisions – minimizing performance, regulatory, legal, information and market risks.’

Pricing and sustainability is discussed by a top-level panel expressing the views of the world’s most influential cash buyers, brokers and shipbreakers. The line-up includes Dr. Anil Sharma, President / CEO of GMS, Narinder Dheir, Director of NKD Maritime, Darren Lepper, Director of Clarksons Platou Shipbroking, Rakesh ‘Billu’ Khetan, CEO of WIRANA, Steve Wansell, General Manager of Mideast Shipping & Trading and Gaurav Mehta, Director of Priyablue Industries.

Changes in the way ships are scrapped - a result of developing legislation and public opinion - will be examined in detail during the packed programme. Among the highlights, Head of the European Commission’s Waste Management & Recycling Unit, Julio García Burgués, will update delegates on the progress of the hotly-debated EU Ship Recycling Regulation and Maersk Group’s Head of Group Sustainability, Annette Stube will give a ship owners perspective during a presentation on ‘Accelerating more sustainable ship recycling.’

Underlining the event’s global significance, GMS founder Dr. Anil Sharma commented: “This is a ‘must attend’ event. Recycling has now become an important pillar of shipping. The 2016 event is the world’s premier event, the place for all stakeholders to come up with practical solutions for a sustainable, progressive and responsive industry.”

TradeWinds’ event director, Jon Chaplin, welcomed the strong industry support and called for owners with ship or rigs to recycle to take full advantage of the gathering. ‘Recycling is key to freight rate recovery and any ship owners with vessels due for scrapping in 2016 will be very glad they attended. Recycling profitably and responsibly is possible with the right knowledge and connections you will make in Dubai.’

The TradeWinds Ship Recycling Forum is being held at the Jumeirah Emirates Towers Hotel in Dubai on March 7-8th. It is sponsored by GMS, Al Salam Insurance, Class NK, Lucion Marine, IHMA, St Kitts & Nevis and Wilhelmsen Ship Management.