C T Online Desk: The scrap ship business has been hit by a slowdown due to the dollar crisis and rising rents due to global conditions including the Ukraine Russia war. The ship breaking industry developed in the southern part of Sitakunda increased the import of scrap ships but the volume decreased drastically.
It is also feared that the fall in the import of scrap ships in the space of one year will have a negative impact on the steel sector of the country. Sources said that a severe crisis is feared in the ship breaking industry in the southern region of Sitakunda, which is known as the iron mine of the country. Old ships are imported from different countries of the world and scrapped here. Rods are produced using these scraps in steel factories established in different parts of the country. But the number of old ships is gradually decreasing.
Hundreds of ships around the world are reaching the end of their lives, but shipowners are not scrapping because of high rents. They will scrap the old ships after a few more runs. Many are repairing and operating old ships. As a result, the number of scrap ships in the world market has decreased.
As the quantity of scrap ships in the market has decreased, the prices have also increased significantly. The price of scrap ship per ton increased from 300 dollars to 650 dollars. Due to the sudden increase in prices, many traders stopped importing ships. Again, many businessmen left the country because they could not pay the money to the bank. This also has a negative impact on ship imports.
