Leveraging attractive steel prices to drive more ships to the recycling yards
SINGAPORE, Aug. 30, 2021 /PRNewswire/ — Ships are sent for demolition typically after between 15 and 20 years of usage. However, the pandemic’s pressure has compelled some shipowners to sustain themselves by raising capital with early vessel scrapping – cashing in on attractive steel prices. The cyclical nature of ship demolition also poses a challenge for many shipowners to catch the period where steel prices are at their peak. Marine Online closes the gap between shipowners and market fluidity by offering reliable information, enabling shipowners to maximise their investments at the right times.
The team at Marine Online’s has a firm understanding of the latest market sentiments including the demolition sector. Equipped with strong analytical aptitude, shipowners can look forward to favourable negotiation outcomes with sound advisories related to prevailing market movements. Additionally, Marine Online’s team is always ready to propose the best possible recommendations in the clients’ best interests.
Bharat Bahl, Marine Online’s Sales and Purchase Manager remarked: “Our successful negotiations are attributed to having sound grasp of the demolition market – especially the returns (steel prices) corresponding with the right timing. We strive to help our clientele convert their expired assets into optimum yields. Additionally, we go the extra mile in assisting shipowners have their vessels arrive at the scrap yard smoothly and on time. Our strong connections with over 700 ports worldwide, 10,000 authorised service providers complement our service and commitment to deliver.”
Marine Online is a client-centric platform providing maritime professionals with effective vessel sales and purchase solutions. To date, Marine Online has transacted for both buyers and sellers worldwide.
About Marine Online (Singapore) Pte Ltd
Marine Online is the world’s first one-stop integrated platform specialising in maritime services for the global market. Launched in 2019, it has provided various maritime services through its revolutionary A.I and Big Data enabled platform to regional ship and cargo owners. With its portfolio of 8 major services, Marine Online shapes the future of maritime by using cutting edge technology to create business opportunities and connections. For more information, visit www.marineonline.com