Political Economy Commons^™

Market Making: Crises And The Global Production Of Shipbreaking In Chittagong, Bangladesh, Elizabeth A. Sibilia

Dissertations, Theses, and Capstone Projects

Shipbreaking is a dismantling process with a primary objective of extracting large amounts of steel from ocean-going vessels, oil tankers, bulk cargo carriers, and container ships. As mobile forms of fixed capital, these devalued vessels have experienced a gradual or sudden loss of value. The removal of devalued ships from the world fleet, through an increasingly sophisticated global demolition market and expanding domestic shipbreaking markets, have played a critical role in helping the global shipping sector solve its crises of overproduction since the mid 1970s. Since the early 1990s Bangladesh has become one of the most important domestic shipbreaking markets. …