BIMCO, a prominent maritime association, has unveiled an impactful industry film titled "Ship Recycling: Time for Change," urging the immediate adoption of the Hong Kong International Convention for the safe and environmentally sound recycling of ships. The film serves as a call to action for ship owners to select shipbreaking yards that adhere to the convention's standards.
Shot partly at ship recycling yards in Alang, India—one of the world's largest ship recycling nations alongside Bangladesh—the film aims to raise awareness among global regulators, ship owners, and the public about the immense potential of the ship recycling industry to contribute to a sustainable global circular economy, provided it is conducted safely.
BIMCO Secretary General and CEO, David Loosley, emphasized the significance of responsible ship recycling: "The numbers speak for themselves. The raw scrap steel derived from ship recycling supplies approximately 50% of Bangladesh's annual steel consumption, supporting around 350 re-rolling mills and generating numerous livelihoods for families."
Loosley added, "However, ship recycling has long been plagued by unsafe practices detrimental to workers and the environment, particularly in yards failing to meet the Hong Kong Convention's standards. It is high time for change and for ship recycling to be carried out in a responsible manner."
During a recent visit to Chattogram and Dhaka in Bangladesh by BIMCO and other industry organizations, discussions were held to highlight the benefits of ratifying the Hong Kong Convention. Bangladesh expressed its commitment to ratify the convention this year, which would enable its entry into force.
According to estimates by BIMCO, over the next decade, more than 15,000 ships are projected to undergo recycling—an increase of over 100% compared to the previous ten years—largely driven by stricter greenhouse gas regulations in the shipping industry.
"This year presents a unique opportunity for the Hong Kong Convention to come into effect, potentially transforming the recycling industry for the better. It is imperative that we seize this chance," emphasized Loosley.
Through its compelling industry film, BIMCO seeks to galvanize stakeholders, including ship owners, regulators, and the public, to prioritize safe and responsible ship recycling practices, ensuring the industry's positive impact on both the environment and society.
