Trade in peril as Rupee takes another plunge
Thursday 20 June 2013, 11:59 |
 |
 |
|
The Indian Rupee today fell to an life-time low of 59.93 per dollar in the opening trade after the US Federal Reserve chairman Ben Bernanke said the central bank would start reducing its stimulus measures later this year if the economy is strong enough. Though Rupee trimm...
Read full story >> |
|
|
| |
|
|
| More News |
|
| Maersk, MSC, CMA CGM join for mega alliance 18 June, 18:32 |
| |
| Split box ship still afloat, raising concerns 18 June, 18:22 |
| |
| New DP World arm to build JNPT minor terminal 18 June, 14:24 |
| |
| Junk ship prices tumble as Alang reels under rupee 18 June, 13:45 |
| |
| Emirates to induct new ship into Indo-China service 18 June, 13:23 |
| |
| Pratibha claims to have sold drifting tankers 18 June, 13:20 |
| |
| MOL Comfort crew rescued as it split into two 18 June, 09:59 |
| |
| Shipping lines work with private terminals to cut cost 17 June, 15:08 |
| |
| Read More News >> |
| From Editor's Desk |
How Rupee fall hit world's ship demolition market
20, June 2013 |
|
 With Indian Rupee plunging to an all-time low of nearly 60 to the US dollar, losses are mounting for ship breakers in India, Pakistan and Bangladesh. Across the three big ship demolition markets, breakers are sitting on huge losses running into millions of dollars on their inventory. The market has hit a panic mode. There is a scope for end buyers to retreat from the deals signed, creating further confusion. Several yards are on the verge of closing down, while others are struggling to remain afloat. Like shipping, ship recycling is a cyclic industry. Losing money in this business as common to minting millions when the market is on a swing. But the Rupee slide seems to have upsurged all t...
Read full story >> |
| |
| View From Upper Deck |
What is Europe trying to do with ship recycling? -- By Dr. Nikos Mikelis, Non-Executive Director, GMS
25, April 2013 |
|
 Over the last decade governments, the shipping industry, the ship recycling industry and NGOs, have been involved in long drawn discussions and negotiations over the need to regulate internationally the recycling of ships so that it takes place in a safer and less polluting ways. Earlier efforts to enforce the Basel Convention to the recycling of ships had failed because that convention had not been developed with shipping in mind, making its implementation impractical as well as legally uncertain. While countries that are Parties to the Basel Convention recognized this by requesting the International Maritime Organization (IMO) to develop a new international convention to specifically ad
...
Read full story >> |
|
|
|
|
|
|
|
.jpg) |
|
| Market News |
|
|
|
|
|
.jpg)
