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

Click here to download

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

Follow us on LinkedIn, Instagram and Twitter

Click here to download

NYK Line discloses ship recycling policies and practices via the Ship Recycling Transparency Initiative

London/Tokyo, 11 May 2021 – NYK Line has become a signatory of the Ship Recycling Transparency Initiative (SRTI) and becomes the 12th shipowner to publicly disclose its approach to ship recycling through the SRTI online platform.

“The NYK Group places environmental, social, and governance (ESG) factors at the centre of its business management. Through the SRTI, NYK can provide transparency in ship recycling, which we believe we can bring about improvements and influence needed. We are committed to promoting and contributing to raising standards of safety and sustainability. Reflecting our basic philosophy of “Bringing value to life,” the NYK Group will continue to fulfil the expectations of society.” says Hitoshi Nagasawa, President and Chief Executive Officer of NYK Line.

Headquartered in Tokyo and operating 777 major ocean vessels, NYK joins industry peers in making its ship recycling policies and practices publicly available and demonstrating its commitment toward transparency and accountability on environmental and social issues.

“We are glad to welcome NYK to the SRTI community and are encouraged to see momentum continue to build behind the importance of transparency and accountability on sustainability challenges such as ship recycling,” says Andrew Stephens, Executive Director of the Ship Recycling Transparency Initiative. “Shipowners like NYK are holding themselves to account before key stakeholders, making ship recycling data available for interested parties to review, scrutinise, and use to make informed decisions.”

NYK’s disclosure brings the total number of signatories to 28. 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 NYK’s Media Relations Team (NYKJP.ML.MEDIA@nykgroup.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 NYK

Nippon Yusen Kabushiki Kaisha (NYK) was founded in 1885 and is one of the world’s leading transportation companies. At the end of March 2020, the NYK Group was operating 784 major ocean vessels, as well as fleets of planes and trucks. The company’s shipping fleet includes 361 bulk carriers, 111 car carriers, 58 containerships (including semi-containerships), 78 LNG carriers (including those owned by equity method affiliates), 56 tankers, 43 wood-chip carriers, one cruise ship, and 76 other ships (including shuttle tankers and multipurpose and project cargo vessels). The NYK Group is based in Tokyo, employs about 35,000 people worldwide, and has regional headquarters in London, New York / New Jersey, Singapore, and Shanghai.

On February 3, 2021, NYK released the NYK Group ESG Story, which aims to further integrate ESG into the company’s management strategy. In order to continue to be a corporate group that remains essential to society and industry, the NYK Group aims to be a sustainable solution provider that creates new value while maximizing profits and achieving social and environmental sustainability from a long-term perspective.

Click here to download

Swiss Re Corporate Solutions logo

Swiss Re Corporate Solutions joins the Ship Recycling Transparency Initiative

London/Zurich, 19 April 2021 – Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, announced today that it has signed up to the Ship Recycling Transparency Initiative (SRTI). In doing so, Swiss Re Corporate Solutions joins a growing list of organisations across the shipping value chain who are calling for greater transparency and responsible ship recycling.

The SRTI aims to use transparency to accelerate a voluntary market-driven approach to responsible ship recycling practices. Shipowners share information in relation to a set of disclosure criteria developed by industry stakeholders. By publicly disclosing their ship recycling policies, practices and progress through the SRTI, the platform enables cargo owners, financial stakeholders and others to use the data to inform their decision-making and reward good practice through the market.

“It’s our ambition to advance sustainable ship recycling,” said Patrizia Kern, Global Head Marine at Swiss Re Corporate Solutions. “By collaborating with SRTI’s network of forward-thinking businesses, we want to support the industry in understanding how to better track ship owners’ scrapping activities that are not respecting standard environmental guidelines and violating human rights. Working on these ambitions collaboratively with the SRTI and its members, we are confident that we can create a more sustainable future.”

“Awareness of the ship recycling industry is growing rapidly in the world of sustainable finance. Now, more than ever, there is a need for transparency and accountability,” said Andrew Stephens, Executive Director of the SRTI. “Demand for data on what shipowners are doing with their vessels at end of life is a key driver for the Ship Recycling Transparency Initiative. By welcoming Swiss Re Corporate Solutions to the cohort, we hope to continue enabling informed decision-making on the part of lenders, investors, insurance providers and cargo owners, further driving progress on responsible ship recycling.”

Swiss Re Corporate Solutions joins a growing community of stakeholders who share a vision for a world where ships are recycled responsibly – socially, environmentally and economically – and are demonstrating their commitment to this vision by signing up to the SRTI.

Signing up to the SRTI is part of Swiss Re Corporate Solutions’ wider sustainability approach that aims to help protect corporates’ sustainability opportunities, share sustainability risk knowledge and lead by example, for instance by committing to net-zero emissions across its whole business by 2050.

– 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 Stefanie Perlitz, Senior Marketing & Communications Manager at Swiss Re Corporate Solutions (Stefanie_Perlitz@swissre.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 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 Swiss Re Corporate Solutions

Swiss Re Corporate Solutions provides risk transfer solutions to large and mid-sized corporations around the world. Its innovative, highly customised products and standard insurance covers help to make businesses more resilient, while its industry-leading claims service provides additional peace of mind. Swiss Re Corporate Solutions serves clients from offices worldwide and is backed by the financial strength of the Swiss Re Group. Visit corporatesolutions.swissre.com or follow us on linkedin.com/company/swiss-re-corporate-solutions and Twitter @SwissRe_CS.

Click here to download

SRTI Theory of Change

Developed in 2020, the infographic provides an overview of the SRTI Theory of Change, divided into four distinct sections:

  1. Disclosure and accountability: Shipowners collect data on their ship recycling policies, practices and progress, and disclose this via the SRTI
  2. Demand for data & transparency: At the same time, stakeholders such as investors, lenders, and shippers demand disclosure on material issues including ship recycling
  3. Informed decision-making: Data available through the SRTI platform can thus be used to incentivise transparency and inform procurement, investment and lending decisions
  4. Knowledge as a driver of change: Increased transparency raises the bar for the industry and leads to a level playing field

Click here to download

Video: SRTI Roundtable 2020

The SRTI online roundtable took place on Wednesday 9 September 2020, bringing the ship recycling community together to present the draft expanded shipowner disclosure, and reflect on learnings from the webinar series.

Moderated by Frances House, Deputy Chief Executive at the Institute for Human Rights and Business (IHRB), the event saw a panel of industry experts discuss the importance of transparency in ship recycling.

Panelists:

  • Roger Strevens, VP Global Sustainability, Wallenius Wilhelmsen
  • Jennifer Riley-James, Senior Ship Recycling Specialist, Lloyd’s Register
  • Andreas Brachel, VP Head of Environmental Claims, Gard


Slide deck

The SRTI slide deck contains information about our vision, mission and objectives.

Click here to download

SRTI awarded funding by Engineering X

We are pleased to announce that the Ship Recycling Transparency Initiative has been awarded funding through the Engineering X Safer End of Engineered Life Mission.

Engineering X, an international collaboration founded by the Royal Academy of Engineering and Lloyd’s Register Foundation, has awarded nearly £1 million in grants across six projects with the aim of achieving safer and more sustainable decommissioning and waste disposal.

Photo credit: Wallenius Wilhelmsen

This award will advance the SRTI’s work through the expansion of the existing shipowner disclosure criteria, as well as through the development of a set of criteria to be used by ship recycling facilities to voluntarily and transparently disclose information about their policies and practices.

The funding will further contribute to improvements in the online platform, which will see added functionality including data visualisation, filtering and extraction in the coming months with the goal of improving access, transparency and ease of use of SRTI data for all stakeholders.

We are pleased to work with the Royal Academy of Engineering, Lloyd’s Register Foundation, and other Engineering X awardees to work toward safe and sustainable ship recycling. Through this project, we want to improve transparency across the value chain, encourage stakeholders to use SRTI data, and to level the playing field in ship recycling.

Andrew Stephens, Executive Director
Sustainable Shipping Initiative / Ship Recycling Transparency Initiative

You can read more about how the SRTI is funded here.

This year has been the SRTI engage the ship recycling community through a series of webinars, focusing on three key themes of data and transparency, circular economy, and the role of financial stakeholders, for the further development of the platform.

The SRTI family has grown to 26 signatories this year, including shipowners Altera Infrastructure and Evergreen Marine Corporation, and our first P&I club Gard.