9,311.88 TRY BIST 100 BIST 100
5.51 CNY CNY CNY
45.32 EUR EUR EUR
39.39 USD USD USD
0.12 CNY CNY/EUR CNY/EUR
43.86 TRY Interest Interest
74.61 USD Fossil Oil Fossil Oil
46.02 USD Silver Silver
4.81 USD Copper Copper
94.51 USD Iron Ore Iron Ore
330.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,342.31 TRY Gold (gr) Gold (gr)

Pakistan's shipbreaking industry in crisis

Pakistan's shipbreaking market continues to decline in 2024. The industry continues to shrink due to years of economic and operational challenges.

Pakistan's shipbreaking industry in crisis

The observed decline in shipbreaking activity is attributed to both changes in international demand and internal management issues. Despite improvements in environmental regulations and safety standards, these steps have not sufficiently helped the industry recover. Lack of investment and increased international competition have further challenged Pakistan's shipbreaking market.

Amid these challenging conditions, a major explosion at a shipbreaking yard in Gaddani, Pakistan, was a painful reminder of the risks facing the industry.

Zulfiqar Bokhari, the administrative official in the area, reported that at least 12 people were killed and 58 injured in the incident. Nasir Mansoor, a representative of the National Trade Union Federation of Pakistan, said the explosion occurred in the ship's fuel tank. This tragic incident has once again highlighted the current state of the shipbreaking industry in Pakistan and the extent of the risks involved.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Canada announces anti-dumping results on steel strapping imports from 4 countries including Türkiye

Monday, June 16, 2025

England to invest 200 million pounds in carbon capture project in Scotland

Monday, June 16, 2025

Italy's new €200 million support to Acciaierie d'Italia

Monday, June 16, 2025

Trump approves acquisition of US Steel by Japan’s Nippon Steel

Monday, June 16, 2025

Andritz makes a giant investment in Germany: New Electrolyzer Gigafactory opened in Erfurt

Monday, June 16, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now