Ship recycling: Time for Change

Over 15,000 ships could be recycled over the next decade, providing great potential for the circular economy. But it must be done the right way. The Hong Kong Convention allows for the safe and environmentally sound recycling of ships and we need ship owners to choose globally compliant yards. The Hong Kong Convention enters into force in June 2025.

On 26 June 2023, following the ratification of the Convention by Bangladesh and Liberia and the depositing of their instruments to the IMO, it is set to enter into force within 24 months from now.

14 years after its adoption, BIMCO welcomes the entry into force of the convention as it aims to ensure that ships, when being recycled after reaching the end of their operational lives, do not pose any unnecessary risk to human health and safety or to the environment.

Acknowledging this is only the beginning and shipowners must start using compliant facilities globally, BIMCO hosted a webinar on 4 July outlining the current legal framework, the challenges ahead, the existing complexities and possibilities.

Speakers:

Jun Sun, Technical Officer, IMO
Capt. Akshat Arora, Senior Risk Assessor, Thomas Miller P&I
William MacLachlan, Partner, HFW
Gudrun Janssens, Manager, Intergovernmental Engagement, BIMCO

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Ship recycling: Time for Change

Watch a recording of our webinar entitled "Welcoming the Hong Kong Convention: what happens now?

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