China Merchants Energy Shipping (CMES) has disposed of a 21-year-old VLCC as part of an ongoing effort to renew its fleet and lower operating costs.

China's shipbreaking sector is expected to face a difficult year ahead as the country's domestic scrap prices continue to fall, reports said.

The Indian Ministry of Environment and Forests has sought a detailed report on the proposed ship recycling facility by the Adani group at Mundra.

China Merchants Energy Shipping (CMES) has sold a 1992-built VLCC to a Chinese scrapyard for approximately RMB82.04m ($13.53m).

Ship demolition activities slowed down in 2013 over the previous year, but the average age of ships getting scrapped is getting younger, according to French environmental watchdog Robin des Bois.

Goldenport Holdings Inc has sold a 2,420-teu container vessel for $6m to Gunehr Shipping of Nevis.

China has revealed a new ship scrapping policy to accelerate the demolition of older vessels and streamline the overall efficiency of the shipping sector.

China Shipping Development Co (CSDC) has agreed to send its 21-year-old oil tanker to the scrapyard at a price of RMB20.47m ($3.35m).

China Shipping Container Line (CSCL) has sold a pair of old container vessels for a combined scrap value of about RMB33.86m ($5.52m).

China Cosco Holdings will get rid of 13 aged vessels as part of a move to restructure the company's shipping fleet.