The SRTI is a ‘one stop shop’ online platform to report information on ship recycling against a set of pre-defined disclosure criteria


Shipowners can publicly disclose their ship recycling policies, practices and progress through the SRTI, thereby holding themselves to account before key stakeholders -including customers, investors, governments and NGOs- and for the benefit of the wider public.

We engage actors across the shipping value chain to consider their role throughout a vessel’s lifecycle. By making this information publicly available, we enable cargo owners, financial stakeholders and other stakeholders to use the data to inform their decision making and reward good practice through the market.

The SRTI is a tool that allows shipowners to share information, allowing the data to tell its own story. It is not a performance standard nor a rating exercise; neither will it rank nor assess individual shipowners’ policies and practices.

Our vision is of a world where ships are recycled responsibly – socially, environmentally and economically – going beyond international conventions and setting a new norm for responsible ship recycling

The SRTI aims to accelerate a voluntary market-driven approach to responsible ship recycling practices through transparency; and subsequently to inform decision-making and create fair competition across the shipping industry.

We publish an annual report each year compiling data from the platform and highlighting stakeholder perspectives on ship recycling.

Read the reports
Photo credit: Wallenius Wilhelmsen

Our History


Launched in March 2018 with a mission to improve transparency across the shipping value chain, the SRTI is an open, independent initiative hosted by the Sustainable Shipping Initiative (SSI) – a non-profit organisation and UK registered charity.

The SRTI reflects a collective effort that brings together stakeholders across the shipping value chain to improve ship recycling policy, practice and performance.

Following the work of the SSI’s ship recycling working group between 2014 and 2018, the SRTI was developed by a core group of SSI members with a mission to accelerate a voluntary market-driven approach to responsible ship recycling practices through transparency.

Key industry stakeholders developed a set of disclosure criteria against which shipowners would report information on ship recycling, including issues such as regulatory compliance, policy for selling owned vessels for further trading, ship recycling contract, among others.

The platform launched in December 2018 with eleven founding signatories, including SSI members (The China Navigation Company, A.P. Moeller-Maersk, Lloyd’s Register and Standard Chartered Bank) and non-SSI members (GES International, Hapag-Lloyd, NORDEN, Nykredit, Stolt Tankers and Wallenius Wilhelmsen).

Since its launch, the SRTI community has grown to 26 signatories including 11 disclosing shipowners.

See a full list of signatories

Governance


The SRTI is an independent initiative hosted by the Sustainable Shipping Initiative, a non-profit organisation and UK registered charity. It is governed by a Steering Group composed of representatives from twelve organisations.

The Steering Group meets on a periodic basis (at least quarterly) and guides SRTI strategy, positioning and development. See the terms and rules of the Steering Group.

Day-to-day activities for the SRTI are managed by the Sustainable Shipping Initiative Secretariat.

SRTI Finances


The SRTI received initial funding contributions from founding members: A.P Moeller-Maersk, Hapag-Lloyd, NORDEN, Stolt Tankers, The China Navigation Company and Wallenius Wilhelmsen.

Since the platform launch in 2018, the SRTI has developed a funding model combining annual signatory fees (see below) and external funding to maintain operations and further develop the initiative. We welcome financial contributions to ensure a diverse SRTI funding base that facilitates the initiative’s neutrality.

Additional funding has generously been granted by A/S D/S Orientsfond.

In 2020, the SRTI also received funding from Engineering X, an international collaboration founded by the Royal Academic of Engineering and Lloyd’s Register Foundation. The funding will, over a two year period, be used to improve the online platform through which shipowners publicly disclose their ship recycling policies, and to further develop the disclosure criteria to improve transparency across ship recycling value chains.

Signatory Annual Fees


Annual fees cover the costs associated with maintenance of the online platform as well as contribute to the ongoing operation, development and growth of the initiative.

An annual fee of 5,000 USD is paid by shipowners, lenders and insurance companies, as well as class societies and ratings/standards agencies.

Cargo owners, forwarders and investors do not pay an annual fee.

Current Steering Group Members