Southeast scrapping for offshore plant is a new upcoming market.
According to Korea Maritime Institute (KMI) on 2 December, among 1,800-some units of offshore plant installed in Asia-Pacific region, about 620 units are decrepit of over 25-year-old and about 400 units should be scrapped in five years.
International Maritime Organization (IMO) suggests demolition of  offshore plant which have been installed for over 25 years.
Now Indonesia has the largest offshore plant in need of scrapping, about 200 units to be disposed and Malaysia, Thailand and other countries have considerable number of old offshore plants as well.
Scrapping cost of offshore plant in Asia-Pacific area is estimated to be $15.3bn.
KMI said, "Offshore plant scrapping has mostly took place in Gulf of Mexico and Asia-Pacific area, covering Indonesia, Malaysia, Thailand and Australia, is just starting off."
Added, "Offshore plants from GoM are mostly within 1,000 t and depths of 20m, on the other hand, those from Asia-Pacific are medium-to-large scale, average of 4,000-ton and depths of over 30m."