GMS weekly report on Bangladesh ShipBreaking industry for WEEK 5 0f 2011

With another week on the sidelines and further hearings scheduled over the next tew days, it was another frustrating week in Bangladesh. Xews of an unfortunate accident did little to dispel the feelings of animosity that had been building from various groups lobbying for closure of the industry.

In excess of 15 vessels had managed to beach a few months earlier (with several more granted permission before the new ruling receiving permission to clear inwards this week) something that had led to a backlash from concerned parties.

However, a lack of transparency in Chittagong coupled with unrealistic demands from BELA have left the industry, in what has seemed an almost permanent state of confusion. It is doubtful whether there will be any further movement in the next month or so, despite the government becoming increasingly concerned about the economic effects a deadlocked ship recycling industry has brought on the country over the past 8-9 months or so.

Source: SteelGuru (Sourced from GMS Weekly). Tuesday, 01 Feb 2011

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