What is the Ship Recycling Transparency Initiative?

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 is a ‘one stop shop’ online platform to report information on ship recycling against a set of pre-defined disclosure criteria developed jointly by key industry stakeholders. In the interest of transparency, shipowners should share their approach on key disclosure criteria on the SRTI online platform. Cargo owners and financial stakeholders will have access to information on different companies’ approaches to ship recycling and make informed decisions.

Launched in March 2018, the SRTI is an open initiative with a mission 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.

SRTI brochure

Download the full SRTI information pack (3.4 MB)
(brochure, slide deck, key messages, testimonials, disclosure questionnaire)

How does the SRTI work?

The SRTI online platform is a tool that allows shipowners to share information on their ship recycling policies and practices, allowing the data to tell its own story and help investors and cargo owners make informed decisions.

The SRTI is not a performance standard nor a rating exercise: neither will it rank nor assess individual ship- owners’ policies and practices.

Who is leading the SRTI?

The SRTI is an independent initiative hosted by the Sustainable Shipping Initiative. It reflects a collective effort that brings together the shipping industry, investors, cargo owners and broader stakeholders to improve ship recycling policy, practice and performance.

A number of leaders from across the shipping value chain are leading the SRTI as members of the SRTI Steering Group including: The China Navigation Company, Forum for the Future, GES International, Hapag Lloyd, Lloyd’s Register, A.P. Moeller-Maersk, NORDEN, Nykredit, Standard Chartered Bank, Stolt Tankers and Wallenius Wilhelmsen. A range of investors and cargo owners have also expressed their interest in signing up to the Initiative. Find out why they signed up to the SRTI.

The SRTI is funded by independent actors, including grants and foundations. SRTI signatories are invited to make a voluntary financial contribution towards the running of the Initiative.

What does it mean for shipowners to become an SRTI signatory?

By signing up to the SRTI, shipowners:

  • make a commitment to disclose their ship recycling policies and practices on the SRTI disclosure criteria
  • become a member of the SRTI community through participation in regular meetings and events, with the possibility of becoming a member of the SRTI Steering Group (upon invitation)
  • speak publicly about their engagement and support in recruiting other SRTI signatories
What does it mean for cargo owners and investors to become SRTI signatories?

Cargo owners and investors signing up the SRTI:

  • access and use the data to inform their decision-making
  • become a member of the SRTI community through participation in advisory panels to ensure the ongoing relevance of SRTI information as well as to develop effective incentives that drive good practice through the market
  • speak publicly about their engagement and support in recruiting other SRTI signatories