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 July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Salvage

Tanker and Cargo Ship Collided in Shanghai

General cargo vessel "Jiang Xia Xiang" collided with the tanker "Bai Chi" on July 23, 2015, at 1 a.m. in the Wusong area, Shanghai, on the Yangtze river.    The

Araya Adrift in Black Sea

The bulk carrier Araya lost power and adrift on 90 nautical miles off Odessa, Ukraine in Black Sea on July 25.    The carrier, en route from Ilyichevsk Ukraine to Constanta Romania,

Passenger Vessel Runs Aground in Aegean Sea

A passenger vessel (Flying Cat) with a total of 253 persons on board was safely evacuated on Sunday after running aground off Tinos island in the Aegean Sea, Xinhua

News

NOIA Applauds RI Offshore Wind Project

National Ocean Industries Association (NOIA) president Randall Luthi issued a statement congratulating “steel in the water” for Deep Water Wind’s Block Island Wind Farm,

Mozambique Port Accident Deals Blow to Vale Coal Project

A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale's effort to start coal shipments from the African nation in the third quarter,

BTP Handles Millionth Container

Brazil’s newest container terminal hits a series of efficiency milestones   Brasil Terminal Portuário (BTP), Brazil’s newest container terminal in the Port of Santos,

 
 
Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
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: 0.1360 sec (7 req/sec)