Progress Report: 2022

The Ship Recycling Transparency Initiative (SRTI) publishes an annual progress report presenting an extract of the most salient data disclosed via the SRTI platform by fourteen major shipowners, which operate over 3,600 vessels. Each shipowner’s disclosure can be viewed on the SRTI website.

2022 saw the SRTI growing its signatories, welcoming three new signatories. The initiative was present as panellist at the ACI (Ship Recycling Congress) held in Rotterdam (The Netherlands,), the Responsible Ship Recycling Forum organized by Riviera and held in London (UK) as well as the round table organized by the International Union of Marine Insurers (IUMI).

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Smart Freight Centre to be the new host for SRTI

Amsterdam, March 13, 2023 

Smart Freight Centre to be the new host for SRTI

SRTI will be hosted by Smart Freight Centre (SFC). SRTI was founded as a purpose-driven community with a focus on responsible recycling of ships and will keep its status as a unique group within SFC. The SRTI signatories will not automatically become SFC members but are invited to join SFC as base or premium members if they want to get involved with other SFC programs. SRTI will be managed by a dedicated SRTI Manager, who will be announced soon. 

Smart Freight Centre is an international non-profit organization focused on reducing greenhouse gas emission from freight transportation. SFC’s goal is to guide the global logistics industry to track and reduce its GHG emissions by one billion tonnes by 2030 and reach zero emissions by 2050 or earlier. SFC collaborates with global partners to quantify impacts, identify solutions, and advocate logistics decarbonization strategies.  

Organizations on their journey to freight decarbonization can become members of Smart Freight Centre to access to a wide portfolio of initiatives and projects to help them collaborate to improve their GHG emission performance and supply chain economics. Membership unlocks solutions through several SFC programs, including Global Logistics Emissions Council (GLEC), Clean Cargo, Sustainable Freight Buyers Alliance (SFBA), and an (under development) air transport decarbonization initiative.  

Smart Freight Centre has 150 + member and partner organizations, being shippers, cargo owners, MNCs and LSPs.  

SRTI and SFC are on a mission to work towards a more transparent, responsible and sustainable shipping industry. Synergies between the organizations include an overlap in members/signatories as well as competencies – with SFC already having experience of hosting Clean Cargo and other data-driven initiatives.  

Smart Freight Centre as host is closely linked to the shipping sectors and the multi- stakeholder approach needed to tackle these big sustainability challenges, as well as the benefits of data and transparency for those stakeholders looking to clearly show their commitment to leadership and taking responsibility.  

Find out more about Smart Freight Centre here www.smartfreightcentre.org 


Yang Ming becomes signatory to the Ship Recycling Transparency Initiative

London/Keelung, 14 September 2022 – Yang Ming Marine Transport Corporation is the latest shipowner to become a signatory to the Ship Recycling Transparency Initiative (SRTI) and publicise its recycling policies, practices and processes.

Yang Ming operates across Asia, Europe, America and Australia with a fleet of 95 vessels with a 7.837-million-D.W.T / operating capacity of 690,000 TEUS, of which container ships are the main service force.

In a corporate statement Yang Ming said, “To strengthen our ESG commitment, Yang Ming vows to ensure greater transparency in ship recycling practices by joining the Ship Recycling Transparency Initiative (SRTI). Through disclosing ship recycling policies, we will fulfil our promise of safeguarding human and environmental rights from shipyard to scrapyard. This approach will pave the way to a safer and greener ship recycling industry, and consequently, creating sustainable value for Yang Ming’s stakeholders. “

“It is vital that all stakeholders work together to create a sustainable shipping industry, and this includes transparency at all stages of the ship lifecycle. The more transparency we have in ship recycling, the more we are able to raise the bar and improve the standards.” said Andrew Stephens, Executive Director of the SRTI. “We are glad to welcome Yang Ming to the SRTI community and look forward to working with Yang Ming and other signatories to ensure ship recycling transparency everywhere.”

Yang Ming joins 30 signatories in the SRTI and adds to 13 other shipowners who demonstrate their commitment to transparent and responsible ship recycling by holding themselves to account and making their ship recycling policies public. The company’s disclosure can be viewed via the SRTI platform.

– ENDS –

 

Notes to Editors:

For more information, interviews or comment please contact Elizabeth Petit, Head of Communications, Sustainable Shipping Initiative (e.petit@sustainableshipping.org) or Yang Ming (pr@yangming.com).

About the Ship Recycling Transparency Initiative (SRTI)
The Ship Recycling Transparency Initiative (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. The SRTI adopts a voluntary market-driven approach to sustainable ship recycling practices. As an online platform, it promotes exchange of information on ship recycling practices and guidelines, and helps ensure greater transparency in the maritime sector.

To learn more, view and download the SRTI Theory of Change infographic; or explore the data.

www.shiprecyclingtransparency.org

Follow us on LinkedIn and Twitter (@SustShipping)
#ShipRecyclingTransparency
#ShipRecycling

 

About Yang Ming

As of July of 2022, Yang Ming operates a fleet of 95 vessels with a 7.837-million-D.W.T / operating capacity 690 thousand TEUS, of which container ships are the main service force. The Company offers trustworthy, scheduled container transportation service across Asia, Europe, America, and Australia.

Yang Ming constantly upgrade its fleet and services in hopes of maintaining its position as one of the world’s best carriers. In response to environmental protection, Yang Ming follows the Hong Kong Convention in 2009 and eliminates old ships by means of green recycling. The Inventory of Hazardous Materials (IHM) has been prepared on board, and the first stage (IHM Part I) of the hazardous materials and pollutant areas on the vessel has been completed to protect the health of the construction workers, human rights, and marine environment. Buyers are required to choose a green ship recycling facility that holds Hong Kong Convention (HKC) and ISO certification as well. For ship dismantling after the sale, Yang Ming also continues to track the progress with buyers and ship recycling facilities, proof and certification of the completion of dismantling are required. Looking into the future, Yang Ming will increase disclosure of it ship recycling policies and practices to promote responsible ship recycling in the industry. Yang Ming will continue to pay attention to ESG issues while taking proactive approaches to manage and tackle them. Step by step, the Company will achieve the ultimate goal of a better and sustainable future.

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Seaspan Corporation joins Ship Recycling Transparency Initiative

London/Vancouver, 14 June 2022 – Seaspan Corporation (Seaspan), a wholly-owned subsidiary of Atlas Corp. (NYSE:ATCO), is the latest shipowner-operator to join the Ship Recycling Transparency Initiative (SRTI) and publicise its recycling policies, practices and processes.

Seaspan is the largest global containership lessor, primarily focused on long-term, fixed-rate leases with the world’s largest container shipping liners. As at March 31, 2022, Seaspan’s operating fleet consisted of 132 vessels with a total capacity of 1,147,980 TEU, and an additional 67 vessels under construction, increasing total fleet capacity to 1,959,380 TEU, on a fully delivered basis.

“Sustainable ship recycling can provide benefits to both the global environmental and local communities. But this is contingent on having strong governance and transparent recycling practises in place. Without such the industry quickly risks doing more harm than good.” said Torsten Holst Pedersen, Chief Operating Officer of Seaspan. “Seaspan looks forward to working with SRTI to promote responsible and safe ship recycling practices.”

“It is encouraging to see momentum continue to build behind the importance of transparency and accountability on sustainability issues such as ship recycling, which covers environmental, social and governance factors, during this decade of action.” said Andrew Stephens, Executive Director of the SRTI. “We are glad to welcome Seaspan to the SRTI community, increasing the SRTI’s profile in North America, and look forward to working together to raise awareness of the need for transparency and collaboration around responsible and safe ship recycling.”

Seaspan is one of 13 disclosing shipowners in the SRTI and joins like-minded and leading shipowners holding themselves to account before key stakeholders, including customers, investors, and the wider public. Earlier this year, the SRTI saw Volkswagen Group Logistics become a signatory to the initiative, increasing awareness of the ship recycling challenge among cargo owners.

– ENDS –

 

Notes to Editors:

For more information, interviews or comment please contact Elizabeth Petit, Head of Communications, Sustainable Shipping Initiative (e.petit@sustainableshipping.org) or Will Kostlivy, Investor Relations, Atlas Corp., (media.inquiries@atlascorporation.com).

About the Ship Recycling Transparency Initiative (SRTI)
The Ship Recycling Transparency Initiative (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. The SRTI adopts a voluntary market-driven approach to sustainable ship recycling practices. As an online platform, it promotes exchange of information on ship recycling practices and guidelines, and helps ensure greater transparency in the maritime sector.

To learn more, view and download the SRTI Theory of Change infographic; or explore the data.

www.shiprecyclingtransparency.org

Follow us on LinkedIn and Twitter (@SustShipping)
#ShipRecyclingTransparency
#ShipRecycling

About Seaspan

Seaspan is the largest global containership lessor, primarily focused on long-term, fixed-rate leases with the world’s largest container shipping liners. As at March 31, 2022, Seaspan’s operating fleet consisted of 132 vessels with a total capacity of 1,147,980 TEU, and an additional 67 vessels under construction, increasing total fleet capacity to 1,959,380 TEU, on a fully delivered basis. For more information, visit www.seaspancorp.com

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Volkswagen Group Logistics joins Ship Recycling Transparency Initiative

LONDON/WOLFSBURG, 27 January 2022 – Volkswagen Group Logistics today announces it has become a signatory of the Ship Recycling Transparency Initiative (SRTI). Volkswagen Group Logistics joins peers across the shipping value chain including insurance providers, investors, shipowners and others in calling for transparent, responsible ship recycling practices.

The SRTI enables cargo owners such as Volkswagen Group Logistics, financial stakeholders and others to use data provided by shipowners to inform their decision making, creating demand for responsible ship recycling and rewarding good practice through a voluntary market-driven approach.

Simon Motter, Head of Volkswagen Group Logistics, said: “An important component of our responsible actions is the careful use of resources. That is why it is important to us as Volkswagen Group Logistics to support and promote issues such as sustainability in shipbuilding, ship recycling and maritime transport as a whole.”

“Addressing challenges in ship recycling is a shared responsibility, and we are glad to have Volkswagen Group Logistics join the SRTI community and lead by example, showing how cargo owners can be aware of and take responsibility for their full supply chain, going above and beyond what is required.” Andrew Stephens, SRTI’s Executive Director, said. “We look forward to working with VW Group Logistics to raise the profile of this issue and bring awareness to others who may want to consider how the vessels that carry their cargo are being recycled.”

As the 31st signatory of the initiative, Volkswagen Group Logistics recognises its role in leading the way and coming together with other key stakeholders to raise the standard for a responsible and transparent ship recycling industry, thus resulting in a more responsible and transparent supply chain overall.

– ENDS –

 

Notes to Editors:

For more information, interviews of comment please contact Elizabeth Petit, Head of Communications, Sustainable Shipping Initiative (e.petit@sustainableshipping.org).

About the Ship Recycling Transparency Initiative (SRTI)
The Ship Recycling Transparency Initiative (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. The SRTI adopts a voluntary market-driven approach to sustainable ship recycling practices. As an online platform, it promotes exchange of information on ship recycling practices and guidelines, and helps ensure greater transparency in the maritime sector.

To learn more, view and download the SRTI Theory of Change infographic

www.shiprecyclingtransparency.org

Follow us on LinkedIn and Twitter (@SustShipping)
#ShipRecyclingTransparency
#ShipRecycling

About Volkswagen Konzernlogistik GmbH & Co. OHG
Volkswagen Konzernlogistik GmbH & Co. OHG is part of the Volkswagen Group and one of the 10 largest logistics service provides in Germany. With its more than 750 employees, Volkswagen Konzernlogistik manages a logistics network of multiple brands, production sites and customers including material logistics, vehicle logistics and intra factory logistics. Each year, Volkswagen Konzernlogistik organizes and coordinates the transport of around 250,000 containers and 5.6 million vehicles worldwide, of which roughly 2.8 million vehicles are loaded and shipped on around 7,700 vessel departures.

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Join the SRTI and IUMI for a webinar around the role of insurance in transparent ship recycling

The Ship Recycling Transparency Initiative has collaborated with the International Union of Marine Insurance (IUMI) on two webinars around The need for transparency in ship recycling, to take place on Tuesday 5 October at 09:00 CEST and 16:00 CEST.

 

Description

In 2020, 630 ocean-going commercial ships and offshore units were sold for recycling, with 90% of gross tonnage going to ship recycling facilities in South Asia. In many cases, the process of ship recycling does not take place under safe and environmentally sound conditions, and there is a need for greater transparency around policies, practices and processes to enable a more responsible ship recycling industry.

In this webinar Andrew Stephens, Executive Director at the Ship Recycling Transparency Initiative (SRTI) will provide insights into the ship recycling industry and related regulations as well as the SRTI’s approach to improving ship recycling practices through transparency. This will be followed by a shipowner’s perspective on this issue and a discussion around the risks associated with ship recycling from an insurance perspective.

 

Speakers

Session 1:

Session 2:


Crowley Maritime Corporation becomes first U.S. Ship Operator to join the SRTI

London/Jacksonville, 7 June 2021 – Crowley Maritime Corporation has become the 13th ship owner-operator to publicly disclose its ship recycling policies, practices and process through the Ship Recycling Transparency Initiative (SRTI).

Headquartered in Florida and operating more than 160 commercial and public-sector vessels globally, including container ships, tank vessels, tugboats and barges, Crowley becomes the first U.S.-owned and operated shipping company to make its approach to ship recycling public through the SRTI. Crowley services include end-to-end marine management, including design and engineering.

“Crowley’s ambition is to be the most sustainable and innovative maritime and logistics solutions provider in the Americas by 2025. Making that vision a reality requires us as ship operators to embrace the sustainability of the total life cycle of a vessel,” said Crowley’s Nico De Golia, Director of Global Sustainability and Corporate Citizenship. “We are proud to join the SRTI in promoting transparency in ship recycling policies, practice and processes to promote more responsible life-cycle management of vessels.”

“Ship recycling is a material issue for all shipowners – whether they own a vessel at the beginning or end of life, and regardless of geography, size, or type of vessel. Ensuring responsible, transparent recycling is a shared responsibility for the industry, and we are glad to welcome Crowley Maritime Corporation, which brings a unique perspective as a shipowner with a largely U.S.-Jones Act compliant fleet,” said Andrew Stephens, Executive Director of the SRTI. “We look forward to working with Crowley and other signatories to enable ship recycling transparency everywhere.”

Crowley joins industry peers in disclosing data against five topics: ship recycling policies and standards; selling owned vessels for further trading; ship recycling contracts; ship recycling documentation; and policy and standard implementation. For more information about the data disclosed by shipowners, read the SRTI’s recent progress report.

– ENDS –

 

 

Notes to Editors:

For more information, interviews or comment please contact Elizabeth Petit, Head of Communications, Sustainable Shipping Initiative (e.petit@sustainableshipping.org) or David DeCamp, Crowley Director of Corporate Communications (David.DeCamp@crowley.com).

 

About the Ship Recycling Transparency Initiative (SRTI)
The Ship Recycling Transparency Initiative (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. The SRTI adopts a voluntary market-driven approach to sustainable ship recycling practices. As an online platform, it promotes exchange of information on ship recycling practices and guidelines, and helps ensure greater transparency in the maritime sector.

To learn more, view and download the SRTI Theory of Change infographic; or explore the data.

www.shiprecyclingtransparency.org

Follow us on LinkedIn and Twitter (@SustShipping)
#ShipRecyclingTransparency
#ShipRecycling

 

About Crowley

Jacksonville-based Crowley Holdings Inc., a holding company of the 129-year-old Crowley Maritime Corporation, is a privately held family- and employee-owned company that provides worldwide logistics, government, marine and energy solutions.  Crowley operates with four business units. Crowley Logistics is a full-service end-to end supply chain and managed transportation division that also includes ocean liner cargo services utilizing some company-owned vessels. Crowley Shipping encompasses ownership, operations and management of conventional and dual-fuel LNG (liquefied natural gas) vessels, including tankers, container ships, multipurpose vessels, tugboats and barges; engineering, project management and naval architecture; and Crowley LNG, which provides LNG distribution, engineering and related services. Crowley Fuels provides petroleum transportation, distribution and sales primarily throughout Alaska. Crowley Solutions focuses on global government services and program management, government ship management, expeditionary logistics and government-oriented freight transportation services.

Additional information about Crowley, its subsidiaries and business units may be found at www.crowley.com

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Progress Report: 2021

The Ship Recycling Transparency Initiative (SRTI) publishes an annual progress report presenting a compilation of the data disclosed via the SRTI platform by twelve major shipowners, which operate over 3,400 vessels. Each shipowner’s disclosure can be viewed on the SRTI website.

2020 saw the initiative expand the shipowner disclosure questionnaire for the first time, reflecting industry developments and ensuring that shipowners are disclosing data against a set of robust, relevant questions. It also saw the ship recycling community come together through a series of webinars discussing key topics for the industry: data and transparency; circular economy; and the role of financial stakeholders in demanding and enabling disclosure and accountability.

Read more about the SRTI’s progress below.

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SRTI publishes its 2021 progress report with 29 signatories

London, 18 May 2021 – The Ship Recycling Transparency Initiative (SRTI) today launches its annual progress report, compiling disclosure information from twelve shipowners sharing their ship recycling policies and practices and providing updates on progress against the initiative.

Entering its third year, the SRTI has launched its first expansion of the disclosure questionnaire to reflect industry developments and ensure that shipowners are disclosing data against a set of robust, relevant questions, raising awareness of the current state of responsible ship recycling.

2020 saw the SRTI bring together the ship recycling community to discuss key topics for the industry: data and transparency; circular economy; and the role of financial stakeholders in demanding and enabling disclosure and accountability.

Andrew Stephens, Executive Director of the Ship Recycling Transparency Initiative, said: “We are glad to see awareness of ship recycling continue to increase, and in particular the increased interest and activity within the finance sector, where ship recycling is discussed in relation to the E, S, and G. While the SRTI community continues to grow, we recognise that ship recycling remains an invisible industry to many, and will continue to work on awareness raising around both the possibilities and barriers to a more responsible and safer ship recycling industry.”

Looking ahead, the initiative continues to engage, collaborate and partner with others, and has received funding from Engineering X, an international collaboration founded by the Royal Academy of Engineering and Lloyd’s Register Foundation, and the Danish Orient’s Fond, supporting the SRTI’s continued advancement and future development.

Susan Gourvenec, Engineering X Safer End of Engineered Life Offshore Structure & Ships Theme Lead, said: “An important goal of the Engineering X Safer End of Engineered Life programme is to improve safety of decommissioning offshore structures and ships in those places where unsafe practices are most prevalent and present the greatest threat to safety of the workforce and the environment. We are pleased to fund the work of the SRTI and other research and community-building projects which are making such an important contribution to fulfilling our mission.”

The past month has seen three new signatories join the initiative across the insurance and shipowner sectors (in order of joining date): Swiss Re Corporate Solutions, NYK Line, and the American Hellenic Hull Insurance Company, bringing the total number of signatories to 29. NYK Line’s disclosure brings the total number of vessels covered by the initiative to over 3,400 across a number of segments including containers, tankers, bulk, vehicle carriers, and cruise.

-ENDS-

Click here to read the report

American Hellenic Hull Insurance Company joins the Ship Recycling Transparency Initiative

London/Limassol, 17 May 2021 – American Hellenic Hull Insurance Company (AHHIC) today announces that it has become a signatory to the Ship Recycling Transparency Initiative (SRTI).

The SRTI is a data platform through which shipowners disclose their ship recycling policies, practices and progress, enabling insurance providers, lenders, cargo owners, and other stakeholders to use the data to inform their decision-making and reward good practice through the market.

“American Hellenic Hull is a pioneer in sustainable marine insurance practices and is the first dedicated marine underwriter to sign the United Nations agenda,” commented Ilias Tsakiris, American Hellenic Hull Insurance Company’s Chief Executive Officer. “By becoming a signatory to the Ship Recycling Transparency Initiative family, AHHIC aspires to contribute to the development of a sustainable blue growth strategy for the marine insurance industry. The SRTI plays a pivotal role in the blue economy and we believe the marine insurance industry can make an important contribution by embracing and raising awareness of sustainable ship recycling practices, as part of a stronger overall focus on environmental, social and governance issues.”

Andrew Stephens, Executive Director of the SRTI, said: “Ship recycling carries with it significant environmental, social, and governance risks, standing out as a material ESG issue for financial stakeholders. Insurers, lenders, and investors have significant leverage to demand transparency on end-of-life policies and practices through the SRTI and drive improvements in the industry. We welcome the American Hellenic Hull Insurance Company to the SRTI community, where they join a growing cohort of financial stakeholders committed to enabling responsible ship recycling through transparency and accountability.”

American Hellenic Hull Insurance Company becomes the 29th signatory to the Ship Recycling Transparency Initiative, joining leading shipowners and other important stakeholders in disclosing its ship recycling policies through the online platform.

 

– ENDS –

 

Notes to Editors:

For more information or requests for comment, please contact Elizabeth Petit, Head of Communications at the Sustainable Shipping Initiative (e.petit@sustainableshipping.org) or Ioanna Skondra, Marketing Manager of American Hellenic Hull Insurance Company (i.skondra@hma.com.cy).

About the Ship Recycling Transparency Initiative (SRTI)
The Ship Recycling Transparency Initiative (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. The SRTI adopts a voluntary market-driven approach to sustainable ship recycling practices. As an online platform, it promotes the exchange of information on ship recycling practices and guidelines, and helps ensure greater transparency in the maritime sector.

To learn more, view and download the SRTI Theory of Change infographic

www.shiprecyclingtransparency.org

Follow us on LinkedIn and Twitter (@SustShipping)
#ShipRecyclingTransparency
#ShipRecycling

About American Hellenic Hull Insurance Company

American Hellenic Hull Insurance Company Ltd. provides a range of insurance products to cover the evolving risks of shipping, in compliance with the requirements of Solvency II.  The company covers hull & machinery and war risks for all types of ships.

The company is 100% owned by the American P&I Club and exclusively managed by Hellenic Hull Management, registered in Limassol, Cyprus.  With affiliated offices in Piraeus, New York, Houston, London, Shanghai and Hong Kong the company is able to offer localised services to its clients.

It is the first marine insurance company licensed in Cyprus under the requirements of the Solvency II regime, for which the company passed all financial and operational stress tests, ensuring that it has sufficient capital to meet projected obligations, thus providing a high level of protection to policy holders. The vision is to establish a leading global player in the international blue-water marine hull insurance market.

Website: www.ahhic.com

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