PHP Shipbreaking and Recycling Industries has become the first Bangladesh scrapper to win a statement of compliance under the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships.
Director Zahirul Islam says PHP spent about $4m on improving its site to comply with the convention, which required the yard to install an impermeable concrete floor.
Islam says he hopes shipowners will now support PHP's investment in meeting environmental and safety standards by reducing demolition prices.
