Ship breaking industry in India: Time to act like China, or is too much at stake in Gujarat?
The ship breaking industry has a negative environmental impact on its surroundings 8India is the largest destination for ships to be broken down and only half its shipyards are in consonance with regulations prescribed by the Hong Kong Convention issued by the Nippon Kaiji Kyokai and RINA classification societies. 8A new investment campaign has been launched to upgrade shipbreaking yards over 5 years but India is a long way away from meeting the standards set by the Hong Kong Convention 8A lot of ship breaking facilities off the coast of Gujarat do not figure in the list of authorized destinations and yet the industry continues to thrive. 8The Chinese on the other hand has taken strong action and has shut down most of its ship breaking facilities. 8Is it time for India to act up as well? 8Meanwhile, after a slowdown in the beginning of the 4th quarter of 2017, the purchase price of ships heading to India for demolition went back up and stabilized around $420-430 US per tonne. Click on Reports for a detailed analysis of this industry, including an account of all the ships that are sent for demolition