One year after BIMCO launched the Ship Recycling Alliance to drive safer and more sustainable ship recycling, the initiative has underscored both progress and persistent challenges facing the global maritime industry.
The Alliance was established to support the shipping and ship recycling sectors in advancing responsible recycling practices and to facilitate implementation of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC). However, a year on, legal inconsistencies between the HKC and the Basel Convention (BC), coupled with ongoing misinformation, continue to hinder full and effective adoption of safe recycling standards.
According to BIMCO estimates, more than 16,000 ocean-going vessels will require recycling over the next decade—more than double the number recycled worldwide over the past ten years. This sharp increase highlights the urgency of creating a clear, aligned, and workable regulatory framework to manage end-of-life ships safely and sustainably.
In this context, the Bahamas Shipowners Association (BSA) has reiterated its support for efforts aimed at harmonising international regulations, improving transparency across the recycling value chain, and promoting responsible ship recycling practices. The BSA emphasised that regulatory alignment and accurate information are critical to protecting workers, safeguarding the environment, and ensuring a credible global recycling system as the industry prepares for a significant rise in recycling demand.
As the Ship Recycling Alliance enters its second year, stakeholders stress that closer cooperation between regulators, shipowners, and recycling facilities will be essential to overcoming regulatory conflicts and delivering meaningful progress toward safe and environmentally sound ship recycling worldwide.