Economic Importance of Ship Recycling

One can't deny from the fact that ship recycling is the only and best way of disposing the end-of-life vessels. If we talk about it in the terms of statistics, then, it is for sure that almost 80% of the end of life vessels including ships and tankers both are recycled at the ship demolition yards. On the other hand, the ship breaking industry is being criticized for Poor implementation of safety and environmental standards. You must be aware of CPCB or Central Pollution Control Board, it has declared the ship breaking industry under RED category. But, in the recent years, significant amount of efforts have been put so as to to conduct this recycling activity in a safe and environmentally sound manner. Now, almost all the ship recycling yards have adopted to International standards of recycling the ships. This also ensures the fact that the hazardous material inventory that are made available from the vessels as well as the stock of materials are efficiently managed and recovery of reusable materials are conducted safely.

The main process of ship recycling starts when the end of life vessels are purchased by cash buyer of vessels in hundred percent cash and they in turn, hand over the ship to the ship breaking yard where actual ship demolition process takes place and the scrap is extracted out of The vessel and valuable materials are sold off in the second hand market. This ensures economic importance of ship recycling.

So here in this blog, we are going to talk about the economic importance of ship recycling or ship demolition.

· The main refurbish items that are screened out of the ship like furniture, machinery, office equipment, signalling devices or more are sold off in the second hand market which are then used in the manufacturing of new items.

· Almost 90% of the vessel is covered with the sheet metal and the metal scrap that is used while constructing the ship are recovered carefully and then send to the recycling and re-rolling mills which they then use for producing more steel goods.

· As the resources are finite therefore, the products that are scraped out of the ship or vessels used. The process of ship scraping involves extraction of maximum resources and recovering various secondary products and materials that can be used in some or the other machinery or equipment.

· One of the biggest advantages of scrapping or recycling the ship is that it employs a number workers into the process. They are actually paid fairly because this process is very time consuming and it also imposes a health threat to the workers working over there. So, it employees more workers to the ship breaking yards.

By reading above mentioned points, it is cleared that ship breaking or recycling definitely increases the economy of the world. Therefore, instead of disposing the ship or vessel in the dangerous way, it is important that the ship owner contacts the cash buyer of ships to help them in the ship recycling process.