Bizdata Insights Main Logo

Scrap Ship Import Disruption Impacting Shipbreaking Industry

Industry: Logistics, Logistics & Shipping

The shipbreaking industry in Bangladesh is facing significant challenges as imports of scrap ships have been disrupted, resulting in delays and financial losses. Changes in the industry’s categorization from “orange-b” to “red” in the Environment Protection Rules have made obtaining a second round of environmental clearance mandatory for breaking each ship, causing further delays and financial burdens. The delays are impacting the supply of scrap materials to steel mills, creating a shortage and increasing production costs. Shipbreakers are incurring daily expenses and bank interests, while skilled laborers are leaving due to the prolonged waiting time. The industry fears it may not survive if the situation persists. Steel mills, relying heavily on shipbreakers for raw materials, are also experiencing disruptions in the supply chain. The shipbreaking workers have expressed their concerns and demanded a swift resolution to the crisis. Immediate actions are needed to address the environmental clearance issues and support the shipbreaking industry in Bangladesh.

Source for more details:

Related News

Significant 17.2% Increase in Aviation and Tourism Budget

June 2, 2023

The proposed budget for the 2023-24 fiscal year seeks to allocate Tk 6,597 crore to the Civil Aviation and Tourism Ministry, with the goal of modernizing the aviation sector and expanding the tourism industry to international standards. This allocation represents an increase of 17.2 percent, amounting to Tk 969 crore more than the previous fiscal year.

High Air Fares from Bangladesh Compared to Sri Lanka India

June 1, 2023

Airfares from Bangladesh to the Middle East and other destinations have surged, with airlines charging the highest fares compared to other Asian countries. Factors contributing to the escalating fares include the dollar crisis, a thriving black market for tickets, and inadequate supervision. Flight ticket prices have remained high for over two years, causing concerns among travelers. Expatriates primarily blame organized syndicates for manipulating prices rather than the dollar crisis. Limited flight availability and higher taxes further contribute to increased costs.

BRTC Plans to Buy 100 Electric Double-Decker Buses

May 31, 2023

Bangladesh Road Transport Corporation (BRTC) has initiated a project to acquire 100 electric double-decker buses from India. The proposal has been sent to the Planning Commission, with each bus priced at Tk 3.64 crore. The buses will be purchased from Switch Mobility Company, a subsidiary of Ashok Leyland, under the Indian Line of Credit. The buses' features align with the 'Switch EIV 22' model offered by Switch Mobility. However, concerns have been raised about the pricing and ambiguity surrounding the cost determination.

Foreign Airlines Eye Promising Bangladesh Aviation Market

May 30, 2023

At least eight foreign airlines have shown keen interest in entering the lucrative Bangladesh aviation market, indicating promising business opportunities. The number of foreign airlines operating in Bangladesh is expected to exceed 40, up from the current 33, with the anticipated launch of the third terminal at Dhaka airport in October.

Air Travel Taxes to Increase

May 30, 2023

The government is planning to raise travel taxes for both domestic and international air passengers in an effort to boost revenue collection. Starting from the next fiscal year, domestic travelers may be required to pay a travel tax of Tk 200, while international travelers to certain destinations could face a 50% increase, with rates reaching Tk 6,000. Taxes for passengers traveling to South Asian Association for Regional Cooperation (SAARC) member countries may rise by 67% to Tk 2,000, and those traveling to the Middle East may experience a 33% increase to Tk 4,000. The current rates have remained unchanged for the past nine years.

Budget for Railway Project Increased to 2840 Crores

May 30, 2023

The Ministry of Railways in Bangladesh has put forth a proposal to raise the budget for the construction of the third and fourth railway lines in the Dhaka-Tongi section, as well as the double line in the Tongi and Jaidebpur sections. The cost is set to increase from Tk 848 crore to Tk 2,840 crore, with the project duration extending from three years to 15 years. The amendment proposal has been submitted to the Planning Commission and awaits approval from the National Economic Council's executive committee.

Related News

Significant 17.2% Increase in Aviation and Tourism Budget

June 2, 2023

The proposed budget for the 2023-24 fiscal year seeks to allocate Tk 6,597 crore to the Civil Aviation and Tourism Ministry, with the goal of modernizing the aviation sector and expanding the tourism industry to international standards. This allocation represents an increase of 17.2 percent, amounting to Tk 969 crore more than the previous fiscal year.

High Air Fares from Bangladesh Compared to Sri Lanka India

June 1, 2023

Airfares from Bangladesh to the Middle East and other destinations have surged, with airlines charging the highest fares compared to other Asian countries. Factors contributing to the escalating fares include the dollar crisis, a thriving black market for tickets, and inadequate supervision. Flight ticket prices have remained high for over two years, causing concerns among travelers. Expatriates primarily blame organized syndicates for manipulating prices rather than the dollar crisis. Limited flight availability and higher taxes further contribute to increased costs.

BRTC Plans to Buy 100 Electric Double-Decker Buses

May 31, 2023

Bangladesh Road Transport Corporation (BRTC) has initiated a project to acquire 100 electric double-decker buses from India. The proposal has been sent to the Planning Commission, with each bus priced at Tk 3.64 crore. The buses will be purchased from Switch Mobility Company, a subsidiary of Ashok Leyland, under the Indian Line of Credit. The buses' features align with the 'Switch EIV 22' model offered by Switch Mobility. However, concerns have been raised about the pricing and ambiguity surrounding the cost determination.

Foreign Airlines Eye Promising Bangladesh Aviation Market

May 30, 2023

At least eight foreign airlines have shown keen interest in entering the lucrative Bangladesh aviation market, indicating promising business opportunities. The number of foreign airlines operating in Bangladesh is expected to exceed 40, up from the current 33, with the anticipated launch of the third terminal at Dhaka airport in October.

Air Travel Taxes to Increase

May 30, 2023

The government is planning to raise travel taxes for both domestic and international air passengers in an effort to boost revenue collection. Starting from the next fiscal year, domestic travelers may be required to pay a travel tax of Tk 200, while international travelers to certain destinations could face a 50% increase, with rates reaching Tk 6,000. Taxes for passengers traveling to South Asian Association for Regional Cooperation (SAARC) member countries may rise by 67% to Tk 2,000, and those traveling to the Middle East may experience a 33% increase to Tk 4,000. The current rates have remained unchanged for the past nine years.

Budget for Railway Project Increased to 2840 Crores

May 30, 2023

The Ministry of Railways in Bangladesh has put forth a proposal to raise the budget for the construction of the third and fourth railway lines in the Dhaka-Tongi section, as well as the double line in the Tongi and Jaidebpur sections. The cost is set to increase from Tk 848 crore to Tk 2,840 crore, with the project duration extending from three years to 15 years. The amendment proposal has been submitted to the Planning Commission and awaits approval from the National Economic Council's executive committee.

Shopping cart

0
image/svg+xml

No products in the cart.

Continue Shopping

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here