Bangladesh: New law makes insurance mandatory for shipbreakers
Source: Asia Insurance Review | Mar 2018
Asia Bangladesh Singapore South Asia Marine Regulation
The Bangladeshi Parliament has a ship recycling law that, among other measures, make it mandatory for yard owners to provide insurance for all of their employees.
The new law provides for tougher punishment for violations against safety and environmental standards in ship recycling industry. A zone will be established for the industry in Chittagong, which is the world’s biggest centre for shipbreaking. Industry operators will have to set up yards and conduct their activities within the zone.
Ship breaking is a dangerous sector, with lack of concern among the shipbreakers for the safety of workers and environmental degradation. A