AP Moller-Maersk, Hapag-Lloyd, Wallenius Wilhelmsen, China Navigation and Norden have joined a start-up project to improve disclosure on corporate ship recycling policy.

Also teaming up with the owners are shipping financiers Standard Chartered Bank, Nykredit and GES, and classification society Lloyd’s Register.

The move comes amid increasing social, regulatory and commercial pressure on shipowners to improve environmental and safety policy on ship recycling.