China Cosco has benefitted from the ongoing China government drive to boost ship scrapping, announcing that it received a subsidy of RMB1.38bn ($224.8m) for the decommissioning and upgrading of vessels.

China Shipping Development Co (CSDC) and China Shipping Container Lines (CSCL) have revealed that the government subsidies they received worth a combined $41.5m from ship scrapping activities will have a positive effect on their bottomline in...

August 2014 proved a largely forgettable month for the Indian ship recycling industry, as swings in the value of the rupee and volatility in steel scrap prices made cash buyers turn cautious, but fanned interest in demolition yards across the...

The Chinese shipping market has removed around 4.2m dwt of elderly vessel tonnage in the first half of this year, bringing about a tighter market amid the industry slump, according to He Jianzhong, China’s deputy minister for transport.

China Merchants Energy Shipping (CMES) has sent one 73,600 dwt elderly dry bulk carrier to the scrapyard, pocketing around RMB20m ($3.2m) from the deal.

China Cosco Holdings has disposed of eight aged vessels at a total consideration of approximately RMB124.44m ($20.03m).

Shipbreaking in South Asia has claimed the lives of at least 10 workers in Q2 with many others injured, according to NGO Shipbreaking Platform.

China Merchants Energy Shipping (CMES) has sold one elderly dry bulk carrier as the Chinese shipowner continues to renew its fleet.

The Belgium authorities have called for the rapid entry into force of the Hong Kong Convention on ship recycling following the three-week detention of the vessel Global Spirit in the port of Antwerp.

China Merchants Energy Shipping (CMES) has agreed to a plan to sell or scrap eight elderly dry bulk carriers over the next one year.