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As steel prices remain elevated and supply chain disruptions delay price declines, a new proven structural ship repair technique could help owners keep costs down and assets on the water. Jonny Lim, Director at SPS Technology, reports.

Combat rising steel prices by using SPS Technology

The extreme price of steel has been widely discussed in the shipping industry press this year. As many headed for their summer vacations, The Maritime Executive carried an online story titled ‘Surging Steel Prices Hurt Shipbuilders While Driving-Up Scrap Values’, which outlined the impact of price rises across the industry.

With Q4 2021 approaching, steel costs have started to level off, although localised pricing can vary greatly because of many factors including scale and availability. Furthermore, production capacity forced to take a hiatus during COVID-19 lockdowns is continuing to play catch-up.  This means steel markets and the additional costs buyers are currently paying are unlikely to normalise overnight.

The full article can be downloaded or read on The Maritime-Executive.

Please contact the SPS Technology team for more information about ship repair techniques.

Sandwich Plate System is an established, class-approved, permanent repair solution with a long history of successful projects.

Read more about SPS ship repair techniques in Maritime and Offshore.

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