The Hong Kong Convention came into force last week, setting a global standard for the safe and environmentally sound recycling of ships.
The international shipping industry has welcomed the agreement, with industry experts anticipating a significant rise in ship scrapping in the coming years.
Adopted in 2009, the Hong Kong Convention aims to reduce risks to human health, safety, and the environment caused by improper ship recycling. Every year, large quantities of hazardous materials are released due to substandard scrapping practices.
“Today marks a welcome and historic step forward after two decades of work on this issue,” said Secretary General of the International Chamber of Shipping (ICS), Thomas A. Kazakos.
“At the ICS, we have long advocated for safe and sustainable ship recycling practices. With the entry into force of the Hong Kong Convention, we can now look forward to further progress in improving ship recycling worldwide,” he said.
The life expectancy of the global merchant fleet is expected to decline as the industry accelerates decarbonisation. This puts pressure on shipowners to decide whether to retrofit older vessels to comply with FuelEU Maritime and EU ETS requirements — or scrap them early if retrofitting proves economically unviable. “Through global instruments such as the Hong Kong Convention, we can move forward safely, efficiently and sustainably. A global industry needs global regulations,” said Kazakos.
“The entry into force of the Hong Kong Convention is a milestone for our industry,” said Secretary General of the European Shipowners’ Association (ECSA), Sotiris Raptis.
– Hansa.NewsGlobal
