Norms relaxed on diesel imports through old ships to promote ship breaking industry
The Dollar Business Bureau In a deliberate move to give fillip to the ship breaking industry, the government has relaxed norms for Import of High Speed Diesel (HSD) and Light diesel oil (LDO), brought on board in the old ships/vessels for purpose of breaking. Prior to this development, state trading enterprises were taking care of such imports. On an average, oil tankers accounted for 40% of the volumes scrapped during 1993-2004. Some 250 Indian companies are involved in ship-scrapping, mostly along the Gujarat coast. The ship-breaking industry in India is likely to witness hectic activity in the next 10 years with the European Union’s proposed accelerated phase-out of single-hull tankers (20,000 to 30,000 DWT — dead weight tonnage). According to ...
