Cash buyer Global Marketing Systems (GMS) recently took a Japanese delegation to see improved working conditions at Alang's shipbreaking yards, however, pressure group NGO Shipbreaking Platform believes there is much more work to be done.
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.
It has been a matter of considerable concern for the Indian shipping industry that the country’s vessels currently carry a mere 8% of its overseas cargo. The figure has been steadily dropping over the years, from a level of over 30% in the early...
Seafarers and private security guards from Advanfort’s Seaman Guard Ohio patrol vessel now face further detention and re-trial in India, after a last-minute appeal against the Indian High Court’s verdict to drop all charges.
In what is seen as a major boost to the Indian shipbuilding industry, the government-owned Cochin Shipyard (CSL) will invest INR12bn ($200m) for setting up a drydock facility to build and repair LNG ships.
India’s BJP-led National Democratic Alliance (NDA) government has stayed firmly on the path of reform in all spheres, and is working on a slew of measures to re-energise and revitalise the country’s shipping industry.
India’s largest private sector shipowner, Great Eastern Shipping Co, plans to invest up to INR24bn ($400m) by March 2017 to acquire newbuildings in the dry bulk and tanker sectors, and a jack-up rig.
