There are still no Indian yards on the list of approved shipbreaking facilities currently being completed by the EU. And now a 25-year-old convention blocks the process. The EU is trying to find a way around it.
Shipowners in associations including World Shipping Council and Bimco call on the IMO member states to ensure complete compliance with the new sulfur regulations set to come into force next year. The calls come after several countries have flirted with the idea of not enforcing the regulations in their territorial waters.
76 shipbreaking facilities in India now comply with the Hong Kong convention, says the world's largest shipbreaker GMS. The company expects additional improvements for the much-maligned shipbreakers in the coming year.
Within a few years, India will be the world's largest importer of oil, says Wood Mackenzie. But the country's refineries are far from able to handle the increasing consumption. This could lead to new gasoline trade.
An Indian newspaper reports that APM Terminals is preparing to sell its large stake in port Gateway Terminals India. If the sale happens, it could indicate that APM Terminals is on track to leave India entirely, writes Alphaliner in an analysis.
Gas carrier BW LPG will increase its presence in India with a new joint venture. The partnership provides growth opportunities and a stronger foundation in one of the world's biggest LPG markets, says CEO.
The Danish Minister for Environment and Food, Esben Lunde Larsen, will make sure that Denmark accedes to the UN's regulations for scrapping in the Hong Kong Convention in early 2017 as the fifth country in the world. More countries need to join in for the convention to take effect.
The EU's new scrapping regulations have been criticized for hindering progress at Alang yards with its new requirements. Speaking to ShippingWatch, the Commission claims the opposite. By strengthening requirements, Indian shipyards will improve their conditions so they can gain EU approval.
Following the merger of two Indian tanker carriers, resulting unit TransNav is now targeting expansion. The carrier plans to double its fleet within two years. Although the headquarters are located in Singapore, India is still the focal point for the shipping company.
"The industry is sick," says Noble Chartering in an interview as the company turns its focus to India. Because with a dry bulk industry hit by overcapacity and the Chinese slowdown, the time has come to look for new market potential.