Buoyed by Narendra Modi's runaway victory in the general elections, the Indian shipbreaking industry is in a euphoric state, and is expecting business to boom, even though the monsoon that ruins the beaching tides pattern is just around the corner.
China Merchants Energy Shipping (CMES) has sold an elderly VLCC to the scrapyard as part of it ongoing efforts to renew its fleet.
On 15 May 2014, The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC) enjoyed its fifth anniversary of adoption by the IMO, and it is still on the shelf.
The often hazardous working conditions for shipbreakers have claimed the lives of at least 15 workers so far this year in Bangladesh and India, according to NGO Shipbreaking Platform.
State-owned China Cosco Holdings has sent seven ships to the scrapyard in the month of April as it continues to streamline its fleet.
China Cosco Holdings has pocketed approximately RMB466.49m ($74.62m) from the sale of 16 vessels to the scrapyard in the first quarter of this year.
China Shipping Development Co (CSDC) has sent three old dry bulk carriers to the scrapyard as part of its ongoing efforts to optimise its fleet structure.
The International Ship Recycling Association (ISRA) and NGO Shipbreaking Platform have called for immediate action to improve safety at shipbreaking beaches following four deaths at a Chittagong yard earlier this month.