Bloomberg|UTV EXCLUSIVE : Amidst the
fears of Global Economic Turmoil, Shipbreaking yard in India at Alang in
Bhavnagar District in Gujarat state is all set to demolish 400+ vessels, in
financial year 2011-12.
New vessels ordered in year 2006-2007-2008 are all set
for deliveries by 2012, adding Global Shipping capacities by 25%, whereas on
other side reducing freight cost and global trade going slow will give a
sure-shot benefit to the ship-breakers in India. As a result more than 180
Million Gross Tonnage of Global Shipping Capacities mainly comprising of
vessels old than 20 years will be available for demolition activities.
Regulatory framework in Bangladesh and high cost of breaking ships in China
makes Alang a hot-favorite destination for ship breaking, especially when on
one hand ban on iron-ore mining in India and an ecosystem available for
consumption of scrap steel from demolished vessels in the nearby emerging
rolling mills cluster surrounding Bhavnagar-Alang-Shihor area, is all set to
pump-in adrenalin rush in the Ship breaking activities in India. However,
depreciating rupee is all set to spoil the sport, especially raising bars of
the input cost for purchasing vessels for demolition activities, as such
purchases are imported ones.
Source: YouTube.
13 December 2011
(Watch the report -
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