ShipRecycling in the Indian Subcontinent and Beyond
The American P&I club surveys ship recycling - Progress In Leaps and Bounds The American P&I Club has published Currents- December issue including an article regarding Ship Recycling in the Indian Subcontinent and Beyond (Written by Shashank Agrawal, legal advisor of wirana shipping Corporation / page 14)According to the author, it is anticipated that in excess of 25 million dwt for scrapping will have wound up on the beaches of India, Bangladesh and Pakistan by the end of this year.Shashank Agrawal, legal advisor at Wirana Shipping Corporation in Singapore, describes recycling progress as being in leaps and bounds as the worldwide shipping industry struggles against some of the toughest times it has ever seen. Established in 1983, Wirana is the oldest cash buyer in ship recycling, and since then it has negotiated more than 1,700 vessels and delivered a total deadweight in excess of 48 million. The list continues to grow every day.Wirana purchases vessels on the basis of 100% cash. It then sells the vessel to a recycler in any one of the ship recycling countries. For vessels purchased "as is", the cash buyer takes over the ship at the delivery port and then boards its own crew to ...
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