Chinese yard jumps into the scrapping fray

Technorati Tags: Baltic Dry Index,Baltic Dry Indices,Ship Chartering,Shipchartering,Voyage Fixtures,Time Charter Fixtures,Panamax,Capesize,Handymax,Handysize,Supramax,Dry Cargo Fixtures,Bulk Cargo Fixtures,Baltic Exchange,Freight Review,Maritime Baltic Index,TNT Freight Review,Chinese Shipyards penalties,Yangzijiang Shipbuilding,Chongqing Iron and Steel

 

Shanghai: The downturn in global shipbuilding has begin a shift in industry focus towards the demolition side of shipping, with China-based Jiangsu Yangzijiang Shipbuilding becoming the latest yard to target this buoyant sector. The yard intends to set up a $88m ship demolition joint venture with Chongqing Iron and Steel, which would begin operations by the end of next year.
This news comes on the heels of plans to bring mothballed Scottish yard Nigg in Easter Ros into commission to cash in on the growing international ship demolition business.  [03/08/09]