Ship Scrapping risks

Maritime Cyprus

(http://www.MaritimeCyprus.com) By Dennis L. Bryant. Traditionally, when a ship reached the end of its economic life, the owner sold it, often to a cash buyer, for scrapping with little consideration of the next step. Many ships ended up on a beach in south Asia (India, Pakistan, or Bangladesh) where they were cut apart and the metal was sold for scrap. The working conditions were sometimes dangerous and hazardous to the workers’ health. In addition, little was sometimes done to protect the environment. For many ship owners these days, scrapping is (or should be) a matter requiring business considerations beyond the offered cash price.

A Belgian ship owner was recently fined €750,000 and two of its senior executives were banned from working in the shipping industry for a year after the company was convicted of the illegal export of vessels for scrapping in south Asian yards. The prosecutor had…

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About Brittius

Direct Descendant of, Roman General, and Consul of Rome, BRITTIUS, of the Imperial Roman Army.
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