Alang-based Leela Ship Recycling has become the first ship recycling facility in South Asia to receive the Social Accountability certification, as per SA8000 standards.

Vessel cash buyers Wirana Shipping Corporation has welcomed Maersk Line’s recent decision to engage four Hong Kong Convention (HKC) compliant shipbreaking yards in Alang, India to recycle ships.

Methods ship-recycling remain a major area of controversy for shipowners as the ratification of the Hong Kong Convention continues to be an elusive goal.

Have the ship demolition markets bottomed out? As with stock and commodity markets, it is very hard to predict the highs to which the shipbreaking market will rise, and the lows to which it will fall.

In what is a major setback for the shipbreaking industry in India, a study carried out by the Mumbai-based Tata Institute of Social Sciences (TISS) on Alang yards showed that working conditions had hardly improved over the years since its inception 31 years ago.

In the end, it was simply a matter of holding one’s nerve, refusing to commit locally and weathering the storm caused by the sagging value of the Indian rupee against the US dollar and the dipping prices of steel scrap.

The shipbreaking market in India has turned distinctly bullish in the new year amidst rising steel prices and a dearth of available ships. Recyclers are looking for junk ships as increasing freight rates force owners to delay scrapping.

The Chinese government has announced a long-awaited scrapping subsidy plan that aims to boost the country’s ailing shipbuilding and shipping industries.