Screenshot 2023-05-27 at 11.06.17 am.png

Over the next ten years, from 2023 to 2032, more than 15,000 ships with deadweight capacity of more than 600 million tonnes are expected to be recycled, more than twice the amount recycled in the previous ten years, BIMCO estimates.

As recycling volumes increase, it is increasingly important that the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships is ratified and implemented. The Convention was adopted in 2009 with the aim of reducing risks to human health, safety, and the environment.

There seems to be some good news on that front, as Bangladesh gears up to ratify the convention paving the way for the treaty to finally enter into force and usher in the much-needed overhaul of the shipbreaking industry.