A worker reportedly lost his life while scrapping an FPSO unit, formerly owned by Oslo-listed BW Offshore (OL:BWO), at an Indian beaching yard on 21 April, according to a report from an NGO. However, BW Offshore denied the report, and said Wednesday that the incident “was unrelated to the ongoing recycling of former BW Offshore FPSOs at the yard.”
The scrapping of the Keystone XL pipeline by Joe Biden not only means the end of multibillion-dollar pipe dream for TC Energy Corp. -- it also leaves behind 48,000 tons of steel.
Covid-19 is destroying the market for tankers that deliver about a fifth of the world’s crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap.
