German containership owner Hapag-Lloyd has made a commitment not to demolish its older vessels at yards in India, Pakistan or Bangladesh that do not meet new international standards for environmental and safety reasons. It has instead has opted for China even though it could lose millions of dollars in revenue.
The first vessel to be sold for scrap since the policy was announced, the 3,000-teu New Orleans Express (built 1989), is now awaiting demolition off the coast of China.
The
