Ship Scrapping Now a Money Maker

Friday, April 09, 2010

According to an April 8 report from China Daily, as the shipbuilding industry struggles to recover from the global recession, China's ship scrapping business has become a smorgasbord for both factories and investors. Ship breaking or ship demolition companies usually buy in vessels and sell the scrap to iron and steel companies nearby to book a profit. The price of iron and steel scrap has risen to more than $400 per ton from $150 per ton last year.

(Source: China Daily)

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Salvage

Rescue underway to assist sinking S. Korean ferry

A passenger ferry carrying about 470 people was listing badly off South Korea's southwest coast and had sent a distress signal, a Korean coast guard official said on Wednesday,

Wreck-Removal Convention to Enter into Force

Shipowner liability on the horizon as Denmark ratifies international instrument The Nairobi International Convention on the Removal Wrecks will enter into force on April 14,

Concordia Captain Tried to Blame Wreck on Electrical Blackout

The captain of the Costa Concordia tried to persuade the crisis coordinator of the cruise line to pretend an electrical blackout had caused the shipwreck, a court was told on Monday.

News

Australia's GHG fall by 0.8 %

Australia's greenhouse gas emissions fell 0.8 percent in 2013, according to government data, driven by lower electricity demand and a bigger share of renewables in the energy mix.

China crude oil output up

China's refinery crude throughput in March rose 2.6 percent from a year earlier to 41.92 million tonnes, or 9.87 million barrels per day (bpd), data from the National

Rescue underway to assist sinking S. Korean ferry

A passenger ferry carrying about 470 people was listing badly off South Korea's southwest coast and had sent a distress signal, a Korean coast guard official said on Wednesday,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1036 sec (10 req/sec)