Bimco is optimistic an international ship recycling regulation will meet the entry into force requirement following a visit to ship breakers in Bangladesh.
The shipowners’ association said that during the visit the Bangladesh government confirmed that it will ratify the Hong Kong Convention for the Safe & Environmentally Friendly Recycling of Ships (HKC) and expects it to happen “in the next few weeks”.
By adopting the convention, Bangladesh would help the HKC come close to achieving its complicated entry into force requirements.
Bimco secretary general and chief executive David Loosley said: “Bimco is delighted that Bangladesh has confirmed their commitment to ratifying the convention in the very near future.
“The need for compliant facilities from the main recycling states such as India, Bangladesh and Pakistan is critical, due to the large number of ships expected to be recycled over the next 10 years.”
The visit to Bangladesh included the Norwegian Shipping Association, European Community Shipowners’ Associations and International Chamber of Shipping.
For the HKC to enter into force, it needs to attain three key ratification requirements.
It must be ratified by at least 15 countries, and those countries must represent 40% of the world fleet on a gt basis.
The final requirement is that recycling countries with a recycling capacity representing 3% of the combined fleet of ratifying countries must also ratify.
So far only the ratifying number of countries has been reached, but they represent just over 30% of the world fleet.
Adoption by Bangladesh could fulfil the recycling requirement, but a major flag state will still be required to sign up to get the convention fully over the line and to enter into force.
Loosley hopes adoption by Bangladesh would help non-European yards become recognised under the European Ship Recycling Regulation, which allows only approved yards to recycle Europe-flag ships.
Loosley said the HKC is essential to create a more sustainable shipping industry.
“The potential for adding to the circular economy is too large to be missed,” he said.
“The ship recycling industry provides thousands of jobs, and the steel is reused, but it must comply with international safety and environmental regulations, and ship owners must choose to recycle at compliant yards only, to ensure that it is done safely. The HKC entering into force is a crucial step in the right direction.”
