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:
- Andrew Stephens, Executive Director, SRTI
- Captain Prashant Widge, Head of Responsible Ship Recycling, A.P. Moller-Maersk
- Roberto Spanu, Senior Risk Engineer Marine, Swiss Re Corporate Solutions
Session 2:
- Andrew Stephens, Executive Director, SRTI
- Roger Strevens, VP Global Sustainability, Wallenius Wilhelmsen
- Ilias Tsakiris, CEO, American Hellenic Hull Insurance Company
Click on your preferred session below to register
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.
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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
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.
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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