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Insight: Shipping's financiers turning the tide on shipbreaking practices

Reuters  |  LONDON 

By Jonathan Saul and Simon JessopLONDON (Reuters) - The shipping industry has long been criticised by campaigners for allowing vessels to be broken up on beaches, endangering workers and polluting the sea and sand.Now, it is being called to account from a quarter that may have a bit more clout - its financial backers. Norway's $1 trillion Oil Fund, a leader in ethical investing, in February sold its stake in four firms because they scrap on the beach.Three of the firms excluded by Norway's fund - Taiwan's Evergreen Marine, Precious Shipping and Thoresen Thai Agencies (TTA) of Thailand - ...

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First Published: Tue, May 15 2018. 11:04 IST
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