Importance of Ship Recycling industry in Bangladesh

Country’s main source of steel is from ship recycling industry. More than 300 active re-rolling mills & 35 steel mills uses ship’s scrap as their raw material. The industry is currently supplying more than seventy percent raw materials to local steel industry. Besides, local inland ship building industry depends on reusable steel plates from ship recycling industry.

A huge number of local light and heavy industry developed depending on ship recycling industry.

Almost everything on board the vessel and the vessel itself is recycled, reused and resold. Apart from raw materials to re-rolling mills and steel plates to ship building industry, its oil & lubricants, furniture, paints, chemicals, electrical equipment, etc. sold for reuse.

It generates large amounts of revenue for various government authorities through multiple tax mechanisms.

This is an industry that employs more than 50,000 people directly and over 100, 000 people indirectly. It provides employment to some of the poorest people from the north of Bangladesh who would otherwise have no employment.