Financial Post News

Canadian companies can get into the business of scrapping and recycling ships that have outweighed their useful life, reports Financial Post. When the life span is over, the ships are being sold to the countries that specialize in shipbreaking, such as Bangladesh, China, India, Pakistan and Turkey. This has been happening for the past few decades. When they scrap the ships, firms in these countries recover huge quantities of steel. Transport Canada says that some ships in the country are not even worth towing overseas: dock yards and shore lines across Canada are increasingly littered with abandoned, discarded ships. The document, Marine Vessel End-of-Life Cycle Management…

The British Columbia government has staked its future on natural gas exports, banking on a revenue windfall of at least $100-billion. Yet growing market pessimism and a sudden broadside from large gas consumers is casting fresh doubt on the planned scale of the emerging liquefied natural gas industry, reports the 'Financial Post'. The Pacific Northwest LNG project, located on Lelu Island in the Port Edward district, will liquefy and export natural gas produced in northeastern British Columbia by Progress Energy Canada.