The global maritime industry is bracing for a significant increase in ship recycling activity over the next decade. With over 15,000 vessels, boasting a combined deadweight capacity exceeding 600 million tonnes, set to be dismantled between 2023 and 2032, the industry is poised for a remarkable shift. This surge represents a more than 100% increase compared to the previous decade, underscoring the growing importance of sustainable ship disposal practices.
In this article, BIMCO delves into the implications of this expanding trend, highlighting the pressing need for the implementation of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships. Furthermore, they explore the positive impact of ship recycling on the circular economy and the role played by leading recycling nations like India, Turkey, Bangladesh, and Pakistan.
Click here to read this article!