Bangladesh retains its position as the leading shipbreaking country on the boosting demand for raw material requirements for Padma Bridge, Metro rail projects

During this time, 120 ships were dismantled worldwide, with Bangladesh accounting for 41 or 34% of the total. This surge represents an astounding 170% increase over the same quarter last year when Bangladesh contributed only 14% of global shipbreaking efforts.

According to fundamental industry analysts, Bangladesh’s recent infrastructural development drive has contributed to this fantastic growth.

Investments in projects such as the Padma Bridge, Metro Rail, and other power plants have skyrocketed, boosting demand for building materials like rods. As a result, the shipbreaking industry has experienced a boom in activity to supply the raw material requirements for these massive projects.

Bangladesh has been able to compete for recycled ships by obtaining a significant loan from the International Monetary Fund (IMF) and maintaining firm foreign exchange reserves. It has also surpassed Indian and Pakistani competitors regarding raw material prices. .

Bangladesh’s shipbreaking sector continues to develop due to infrastructure demands, savvy financial moves, and a competitive market mindset. The country’s continued dominance in shipbreaking demonstrates its resilience and adaptability to global industrial challenges.