Responsible Ship Recycling Forum
18 April 2023Gudrun Janssens, Manager Intergovernmental Engagement and Permanent Representative to the European Union is a guest speaker.
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Gudrun Janssens, Manager Intergovernmental Engagement and Permanent Representative to the European Union is a guest speaker.
BIMCO's position has been approved by the BIMCO Board of Directors.
Over the past eight quarters, ship recycling of bulkers, tankers and container ships has dropped to the lowest level in 20 years. A combination of strong demand following a series of market shocks and low orderbooks have kept older ships operating for longer than usual.
BIMCO, together with Bangladesh, India, Norway, Pakistan and the ICS, has submitted a paper ahead of the 81st Marine Environment Protection Committee (MEPC) meeting on 18-22 March 2024. The paper highlights the need to solve possible conflicting requirements of the Hong Kong Convention and the Basel Convention which could have severe consequences for shipowners, ship recycling facilities and ships if unresolved.
Shipping companies are being strongly encouraged to use new ‘Transitional Measures for Shipowners Selling Ships for Recycling’ launched by a wide coalition of international shipping industry organisations.
In 2023, only seven product tankers with combined deadweight tonnes (DWT) capacity of 265,000 were recycled. This was a year-on-year drop of 82% compared to 1.5 million DWT (27 product tankers) recycled in 2022. It was also the lowest level of recycling seen since records began in 1996.
A speaker blog for World Ocean Summit Asia-Pacific by Sabrina Chao, president of BIMCO, published in The Economist Impact, September 2020