EU criticizes shipowners for using controversial recycling maneuver
A shortage of EU-approved recycling yards leaves shipowners with no choice but to re-flag old European ships before sending them to be recycled, says shipping organization Bimco. The EU does not agree with that assessment.
Several shipowners see no other solution than to opt for a controversial flag maneuver before sending European ships to be recycled in, for example, South Asia, but this is now met with criticism from the EU.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.