POST Online Media Lite Edition



 

NGO Shipbreaking Platform: UAE, Greece, USA worst vessel dumpers

Staff Writer |
United Arab Emirates, Greece and United States of America top the list of country dumpers in 2018, according to new data released by the NGO Shipbreaking Platform.

Article continues below




UAE owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2018: there were 61 ships in total.

Greek owners, beached 57 vessels out of a total of 66 sold for demolition.

American owners closely followed with 53 end-of-life vessels broken up on South Asian tidal mudflats.

The worst corporate dumper prize goes to the South Korean liner Sinokor Merchant Marine.

The company, which has been loss-making and is about to merge its container operations with Heung-A, sold 11 ships for breaking on the beaches in 2018: eight vessels ended up in Bangladesh and three in India, where in April, during the demolition of Sinokor’s PLATA GLORY at Leela Ship Recycling Yard, a worker died hit by a falling iron plate.

Norwegian Nordic American Tankers (NAT) incorporated in Bermuda and stock-listed in New York is runner-up for the worst dumper prize.

Last year, NAT reported having earned USD 80 million for the sale of eight vessels for breaking. Three were sold to Alang for breaking and five were sold to breakers in Chittagong.

According to local sources in Bangladesh, the cutting operations of these ships started without required government authorisations.

The sale of two additional vessels to yards in Bangladesh with particularly poor track records and where two workers were killed in 2018, prompted Norwegian pension fund KLP to blacklist the company.

Seven vessels were sold to beaching yards for dirty and dangerous scrapping by German owner Dr Peters GmbH & Co KG. According to local sources, fitter Md Samiul lost his life while scrapping Dr Peters’ DS WARRIOR in December 2018.

Other known shipping companies that in 2018 sold their vessels for the highest price to the worst breaking yards include: Chevron, Costamare, H-Line, Louis plc, Seabulk, SOVCOMFLOT, Teekay, Zodiac Group and CMB.

Belgian CMB is still under investigation for the export of the MINERAL WATER to Bangladesh in 2016.

With the oil and gas sector seeing a downturn in the last couple of years, the Platform has documented an increase in offshore units that have gone for scrap.

Out of the 138 oil and gas units which have been identified as demolished in 2018 alone, 96 ended up on the beaches of South Asia.

Figures include 81 small-sized tug/supply ships and 33 semi-submersible platforms. Noble Corp, ENSCO, Tidewater, Diamond Offshore and Petrobras are amongst the biggest offshore players that dump their assets on the South Asian beaches.

While most assets were exported from either East Asia or America, Diamond Offshore and cash buyer GMS are under investigation in Scotland for having attempted to illegally export three platforms that had operated in the North Sea and were cold-stacked in Cromarty Firth.

The platforms have been under arrest in Scotland since January 2018.

Ship owners are facing increased pressure from investors and credit providers to stop selling their ships to beaching yards. In early 2018, Scandinavian pension funds KLP and GPFG were the first to divest from four shipping companies due to their beaching practices.

Today, banks, pension funds and other financial institutions are actively taking a closer look at how they might contribute to a shift towards better ship recycling practices off the beach, taking into account social and environmental criteria, not just financial returns, when selecting asset values or clients.

Losing financing and clients, however, should not be the only concern of ship owners who continue to use dirty and dangerous scrap yards.

In 2018, and for the first time ever, a ship owner was held criminally liable for having illegally traded four end-of-life ships to Indian beaching yards. Several other cases of illegal traffic are under investigation.

These cases focus not only on the liability of the ship owner, but also on the responsibility of insurers, brokers and maritime warranty surveyors.

By unravelling the murky practices of shipbreaking, which involve the use of middle men, or cash buyers, and flags of convenience such as Comoros, Palau and St. Kitts & Nevis, these cases highlight the importance of conducting due diligence when choosing business

artners.


What to read next

World’s largest LNG bunker vessel sails for delivery
India to re-emerge as UAE's top export destination
Apple iPhone 6 most popular smartphone in UAE

50 beaches in England and Wales under sewage alerts

 
According to data gathered by environmental campaign group Surfers Against Sewage (SAS), there has been storm sewage discharge into the waters at beaches in Cornwall, Devon, Sussex, Essex, Lancashire, Lincolnshire, Northumberland and Cumbria.
 
 

Latest

Train services disrupted, buildings evacuated after fire broke out near London Bridge
Sonic Automotive acquires Audi Owings Mills in Maryland
Ponsse launches new technology: electric forest machine
First 100 Ukrainian farmers compensated through WFCU agricultural loan reimbursement program

NEWS

Malaysia's passenger flight denied landing at Myanmar's Yangon Airport

American naval training aircraft crashes in Texas
Plane with damaged wing makes emergency landing in Irkutsk region
U.S.: Excessive heat for south and west, flash flooding conditions in southwest
Iran seizes unprecedented amount of crystal meth
South Africa: Police operations net 53 suspected illegal miners
 

BUSINESS

Norway's July gas exports hit record high

Nearly 70% of America's top executives affiliated with Republicans
Russian gas supplies via Ukraine, Nord Stream to remain at previous volumes on Wednesday
EU economy greenhouse gases still below pre-COVID levels
Hundreds of workers at Liverpool port vote to strike over pay
Five more grain-carrying ships leave Ukrainian ports
 

Trending Now

Sonic Automotive acquires Audi Owings Mills in Maryland

50 beaches in England and Wales under sewage alerts

Train services disrupted, buildings evacuated after fire broke out near London Bridge

Czech Republic seizes part of Gazprom’s gas storage capacity


POLITICS

President Biden signs climate, health care package

Czech Republic seizes part of Gazprom’s gas storage capacity
Minister Ng to strengthen Canada-Philippines ties with upcoming visit
New trading scheme in UK cuts tariffs on hundreds of everyday products
Hungarian government to fast-track domestic gas production
Illinois Governor announces $34.6 billion investment in transportation over six years
 

Today We Recommend

Nearly 70% of America's top executives affiliated with Republicans


Highlights 

Mainstream Renewable Power pledges to create 100 new jobs in Ireland

Navitas Semiconductor acquires GeneSiC Semiconductor for $100 million

Shoprite acquires 100 new fuel-efficient Scania Euro V trucks


COMPANIES

Mainstream Renewable Power pledges to create 100 new jobs in Ireland

Next.e.GO Mobile starts building €720mn electronic car plant in North Macedonia
EIB to support Ryvu Therapeutics with €22 million
Gazprom does not rule out gas prices in Europe over $4,000 in winter
Joysbio developed two new monkeypox tests that deliver results in 15 minutes
Chester company supplying Airbus and Magellan Aerospace faces strikes
 

CAREERS

Louisiana: Vernon Parish man arrested for timber theft

Philips appoints Roy Jakobs as president and CEO
Daseke appoints Bruce Blaise to board
Island Pacific appoints Herman Chiu as CFO
Horizon Bancorp appoints Thomas M. Prame as president
Encora appoints Deepak Bhandari as EVP, head of corporate development
 

ECONOMY

Russian Economy Ministry expects inflation to reach 13.4% in 2022, GDP to drop to 4.2%

Indonesia sets economic growth at 5.3 percent, inflation at 3.3 percent in 2023
Slovenia's Q2 GDP growth slows to 8.2 pct y-o-y
UK inflation hits 10.1% in 40-year high
U.S. housing market index drops to two-year low in August
German investor confidence falls
 

EARNINGS

Walmart Q2 profit advances

Home Depot Q2 profit climbs
BioMar achieves record Q2
AD Ports Group Q2 net profit surges 59%
Strauss Group H1 revenue increased 8%
BHP net profit nearly triples
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Commission approves €218 million Bulgarian scheme to support agricultural producers

HPAI case in Pennsylvania affects Warren County in New Jersey
South Africa suspends cattle movement to control foot and mouth disease
Russia sent first batches of fodder meal from Kursk region to Vietnam
Rosselkhoznadzor: Illegal import of more than 500,000 doses of vaccine against low pathogenic avian infections stopped
Philippines finds $643,765 worth of smuggled onions from China
 

LEADERSHIP

51% of supply chain leaders increased number of network locations

If company overcomes post-IPO innovation slump, it will survive longer
62% of consumers will stop buying from brands that compromise products to cut costs
Companies must invest to avoid supply chain scandal or pay the price in lost consumers
How awards, recognition decrease inventors' creativity
Keeping employees is harder than ever. And we don't have good news
 

CRIME

Massachusetts AG reaches settlement with opioid maker Endo

Google LLC to pay $60 million for collecting users' location data
Ex-company director from Solihull to pay £11,200 for exporting banned waste
South Korea fines 11 companies $197.5 million for price fixing
Healthcare workers in Italy put at risk due to aggravated fraud relating to protective face masks and suits
South Africa's Special Tribunal orders freeze of Transnet executives' assets
 

Magazine

TRAVEL

Radisson Resort Plaza Skiathos opens in Greece

Dublin Horse Show 2022, a packed programme of races, food and drink
Enjoy the best Greek food in Alaska
The SureStay Hotel by Best Western Rockford East opens in Rockford, Illinois
Avani Chaweng Samui Hotel & Beach Club opens in Thailand
Buffalo Bill is coming to Manitowoc with his Wild West show
 

SEA, LAND, AIR

New Ford Maverick Tremor Off-Road Package revealed

Porsche unveils newest generation of 911 GT3 R
2023 Subaru Crosstrek sells like hotcakes
New Mercedes‑Benz GLC, at home on any terrain
GMC unleashes new 2023 Sierra 1500 AT4X AEV Edition
First BMW M3 Touring presented
 

DESIGN

Clean and luxurious men's watches

Nobody's Child, everybody's favorite
Freddy WR.UP, pants that hug you in all the right places
Stylishly luxurious house design
Great design ideas that might not work for you
Garden mirrors, explore new views of your garden
 

GADGETS

Pro-Ject X8 turntable, superior noise suppression and great sound

Shure MV7 professional dynamic microphone now available in new limited-edition color
Forget streaming services, use McIntosh MR89 to enjoy AM/FM music
Infinix NOTE 12 PRO, first smartphone powered by MediaTek Helio G99
MW75 active noise-cancelling headphones, variety of new features
Parasound JC 1+ mono power amplifier by John Curl, pure delight
 

HEALTH

FDA to allow sale of hearing aids over the counter

West Nile virus kills 1 in Serbia
Infected blood victims in UK to receive £100,000 interim compensation payment
Malta receives first shipment of monkeypox vaccine
Iran reports first monkeypox case
Uruguay decreed universal and free care for hyperacute stroke treatment
 

MEANTIME

Black hole ready for its close-up

Earth's water may be from asteroids
Climate change increasing risk of megaflood in California, Americans ill-prepared and uninsured
Brightest stars in the night sky can strip Neptune-sized planets to their rocky cores
California weather is trending toward extremes
Swiss mountain pass ice to melt completely within weeks