Alang Shipbreakers fear GMB rate revision could harm India play

Mumbai : MUMBAI: During the year to date, India had reported around 229 vessels, while Bangladesh 49 units, according to Piraeusbased shipbroker Golden Destiny . It said India is leading, but had registered 18% decline from the levels for the same period last year. China is trying hard to narrow the gap with the India subcontinent region, it added.

According to Pravin Nagarsheth , president of Iron Steel Scrap & Shipbreakers' Association of India, the high rates were due to the fact that none of the existing players are permitted to sell the plots as they are non-transferable .