Zodiac Group News

The United Arab Emirates (UAE), Greece and the United States of America (USA) top the list of country dumpers of ocean-going commercial vessels in 2018, according to new data released today by the NGO Shipbreaking Platform.UAE owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2018: there were 61 ships in total.Greek owners, beached 57 vessels out of a total of 66 sold for demolition. American owners closely followed with 53 end-of-life vessels broken up on South Asian tidal mudflats.The ‘worst corporate dumper’ prize goes to the South Korean liner Sinokor Merchant Marine, said NGO Shipbreaking Platform.

As in 2016, Germany and Greece top the list of country dumpers in 2017, according to new data released today by the NGO Shipbreaking Platform. German owners, including banks and ship funds, beached 50 vessels out of a total of 53 sold for demolition. Greek owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2017: 51 ships in total. Since the Platform’s first compilation of data in 2009, Greek shipping companies have unceasingly topped the list of owners that opt for dirty and dangerous shipbreaking. Despite increased pressure for safe and clean ship recycling from Norwegian investors and authorities, in 2017, the number of Norwegian-owned ships scrapped on the beach was on the rise: 18 ended up in Alang, Gadani and Chittagong.

Five shipbreaking workers were killed and one injured in a fire that took place in the shipbreaking yards of Gadani, Pakistan, Monday morning. The deadly fire broke out on board of the beached vessel GAZ FOUNTAIN (IMO 8406054). The LPG tanker’s last beneficial owner was the Greek shipping line Naftomar. The vessel’s name was changed to RAIN and its Panama flag swapped for the end-of-life flag Comoros just before the last voyage – a clear indicator of the use of a cash buyer. The accident occurred at yard n° 60, owned by Rizwan Diwan Farooq, the former president of the Pakistan Ship Breakers’ Association. According to reports by newspaper The Dawn, Farooq was detained after having fled the yard. The newspaper reported that the fire broke out due to a “chemical foam” present in the ship.

According to the NGO Shipbreaking Platform 239 end-of-life ships were sold for breaking in the first quarter of 2016. Seventy-nine per cent of end-of-life ships ended up on South Asian beaches, making this quarter one of the worst ones in the last years for non-beaching yards around the world. Out of 189 vessels that reached the shores of India, Pakistan and Bangladesh, 127 were bulk carriers. As opposed to 2015 trends, India has again become the favorite final destination. 68 ships sold to South Asia in the first quarter of 2016 were owned by EU owners. Greek owners topped the list with 40 ships sold to South Asian breakers. German owners followed with 16 ships.

London's Baltic Exchange informs that the achievements of Eyal Ofer, the principal of ship management company Zodiac Group, have been celebrated with the award of honorary life membership of the Exchange. The prestigious award was last awarded in 2009 to the late Sammy Ofer, KBE, father of Mr Eyal Ofer. Other recipients of Baltic Exchange honorary membership have included the Duke of Edinburgh, Winston Churchill, and Maersk Mc-Kinney Moller. Presenting the award Baltic Exchange chairman Quentin Soanes said: 

“We thank you for your services to the London shipping market and the UK ship register. Receiving the award Eyal Ofer said:

“I and Zodiac Maritime have a longstanding association with the Baltic Exchange which will always remain important to us.