The China Navigation Company, Hapag-Lloyd AG, A.P. Møller – Maersk, NORDEN, Stolt Tankers and Wallenius Wilhelmsen are part of the initiative to provide transparency.
The platform comes nine months after a group of shipping companies first announced their collective effort to make responsible ship recycling the norm.
In 2017, 835 ships were recycled out of a world fleet of 50,000, according to SRTI, which said there are no global regulations on ship recycling.
The SRTI is neither a standard nor a rating tool. It is an online platform that shipping companies can use to disclose relevant information on ship recycling. The information is available to industry stakeholders as well as the broader public.
The SRTI is hosted by the Sustainable Shipping Initiative and brings together shipowners, investors, banks, insurers, cargo owners and other key stakeholders from across the maritime industry. Its founding signatories are shipowners The China Navigation Company, Hapag-Lloyd AG, A.P. Møller – Maersk, NORDEN, Stolt Tankers and Wallenius Wilhelmsen; financial stakeholders GES, Nykredit and Standard Chartered Bank; classification society Lloyd’s Register; and sustainability nonprofit Forum for the Future.
“At the SSI we see responsible ship recycling as a critical issue that needs to be addressed through smart interventions like increasing transparency,” said SSI Co-chair Stephanie Draper. “The SRTI is an opportunity for shipowners, cargo owners, investors and others to collectively demand transparency, and through that, better standards. We think that the industry can lead by working across the supply chain to change itself, and it is great to be shaping this positive example of that.”