- Ship Recycling Transparency Initiative has formed an online platform for ship recycling transparency with the help of Wilhelmsen group.
- The platform will make the process of ship recycling transparent by enabling sharing of information on recycling policies.
- Shipowners can inform their ways and approaches of recycled to the customers.
- As these approaches vary, it has become important to know more about them in order to choose the most sustainable and responsible alternative.
In a major breakthrough, the Wallenius Wilhelmsen group has launched the Ship Recycling Transparency Initiative’s (SRTI) online platform for sharing information on shipping companies’ recycling policies and practices is launched, says media reports.
What is it?
Having practiced responsible recycling for decades, Wallenius Wilhelmsen is proud to be a founding member of SRTI. Demanding transparency holds the shipping industry to account, raising the bar for current practice as well as creating fair competition among shipowners.
How will it help shipowners?
Shipowners will use the SRTI online platform to share information on their approaches to ship recycling across a set of comprehensive disclosure criteria. Customers and cargo owners, investors and financial stakeholders- as well as the broader public- will then be able to access and use this information to make informed decisions in regard to vessel recycling.
Aims and Objectives of the Platform
“The Ship Recycling Transparency Initiative empowers those who invest in or buy services from shipping companies to make informed decisions on vessel recycling. With the SRTI they can demand transparency, helping them ensure they do business with companies that recycle responsibly, rather than those who continue with practices that have horrifying human and environmental consequences. It is unthinkable that change won’t be driven with such knowledge. It also sends a clear signal to tonnage providers on the new normal,” says Craig Jasienski, President and CEO of Wallenius Wilhelmsen.
Why is it necessary?
Shipowners, ship recyclers and other stakeholders in the shipping value chain have different approaches to ship recycling ranging from the responsible to those with very negative social and environmental impacts. Information on these approaches has generally not been readily available, which has hampered the ability of investors to make informed decisions to mitigate risks when using ships as collateral for loans or when seeking financing for shipbuilding.
Similarly, it has made it difficult for cargo owners, who are under increasing pressure to take responsibility for their products’ entire supply chain, to ensure that they are not associated with carriers that do not recycle responsibly.
How does this help Wallenius?
“Wallenius Wilhelmsen responsibly recycles vessels at craned berths and landing facilities which we pre-vet to ensure worker welfare and safety is front of mind, as well as to make certain materials are recycled and waste treated in an appropriate and traceable manner. We have a contracted representative on site to supervise the entire process, with the authority to stop work for safety, welfare or environmental reasons,” says Jasienski.
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