Carriers look to short-term gains over blanking, as Red Sea crisis props up rates
With the Red Sea crisis continuing to artificially prop up container spot rates, carriers have ...
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A weird move on the face of it – logically India’s steel ministry is the place to oversee the scrapping of ships because once they have been beached there’s not much shipping to be done. But the shipping ministry is needed in terms of regulations and the like for overseeing vessels arrival… but it has also set up an “an inter-ministerial ship breaking scrap committee” which is looking into issues such as reducing duties on imported ships to scrapped in an effort to stem ship breakers currency losses – which ought, in theory lead to higher scrapping rates.
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