What is the primary reason for scrapping ships during the pandemic?
Why are Billions of Dollars Worth of Ships Being Intentionally Destroyed? | Economics Explained

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Business
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7th - 12th Grade
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To comply with international regulations
To reduce environmental pollution
To cut down on maintenance costs
To upgrade to newer models
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is slow steaming a popular strategy among shipping companies?
It reduces crew fatigue
It minimizes fuel consumption
It shortens delivery times
It increases cargo capacity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main advantage of larger ships like the Valemax class?
They are faster
They are more environmentally friendly
They require fewer crew members
They can carry more cargo
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is shipping considered more cost-effective than other transport modes?
It is faster than trains and planes
It requires less infrastructure
It has lower fuel costs
It can bypass customs regulations
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What challenge do landlocked countries face in terms of manufacturing?
Increased competition from coastal nations
Limited access to raw materials
Higher shipping costs
Lack of skilled labor
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How did low oil prices temporarily benefit shipping companies during the pandemic?
By lowering fuel expenses
By reducing insurance costs
By increasing cargo demand
By allowing faster shipping routes
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was a unique revenue source for shipping companies during the oil price drop?
Expanding into new markets
Increasing passenger services
Leasing ships for storage
Selling ships for scrap
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