The ship recycling industry has made a significant effort to upgrade standards but is seeing very little uptake from shipowners looking for green recycling.
Shipowners are still showing a preference for commercial considerations over responsible ship recycling complained shipbreakers, shipbrokers and cash buyers who attended the TradeWinds Ship Recycling Forum held in Singapore today.
Despite large-scale improvements by yards in India, Pakistan and Bangladesh that have led to an increasing number of them meeting the requirements of the Hong Kong Convention (HKC), cash buyer GMS president Anil Sharma told the forum that only 5% of ships being sold for recycling go for green recycling.
Darren
