How it works
Driving progress through transparency
The SRTI is an Initiative open to any organization directly or indirectly involved in the maritime business. Through its Disclosure Questionnaire, shipowners voluntarily disclose information on their respective ship recycling policies, practices and progress, holding themselves accountable before key stakeholders and for the benefit of the wider public.
The SRTI uses transparency to drive progress on ship recycling by way of a one-stop-shop online platform to share information on ship recycling.
Simultaneously, stakeholders such as cargo owners, financiers, NGOs, and other relevant stakeholders such as consultancies and ship recycling yards can also become signatories, demanding transparency from shipowners on their approach to ship recycling and using SRTI data to make informed decisions and reward good practice through the market.
Disclosure Questionnaire
The Disclosure Questionnaire is the core element of the SRTI, serving as a comprehensive tool for shipowners to voluntarily disclose the most relevant information on their ship recycling policies, practices, and progress.
Annual Reporting
This structured questionnaire enables transparency, accountability, and the promotion of sustainable practices within the industry and is provided by the shipowner on an annual base.
Key Areas of Disclosure
Shipowners disclose data through the Disclosure Questionnaire on five key areas that cover all aspects of responsible ship recycling.
Key Areas of Disclosure
Shipowners disclose data through the Disclosure Questionnaire on five key areas:
1. BUSINESS DETAILS
Information about the disclosing organization, including its name, fleet size, ship ownership details, and ship recycling activities
2. POLICIES
Focuses on the organization’s ship recycling policies, including their scope, public availability, adherence to international standards, and specific criteria for responsible recycling.
3. CONTRACTS
Examines whether the organization uses contracts that ensure responsible recycling, including contractual obligations for buyers and recycling facilities.
4. IMPLEMENTATION
Investigates how organizations ensure compliance with ship recycling policies, including facility assessments, monitoring, and worker protections.
5. FUTURE PRIORITIES
Allows organizations to highlight areas of interest for future SRTI activities, such as education, stakeholder engagement, and additional tools for responsible recycling.
SRTI Disclosure Questionnaire Update Process
The SRTI Disclosure Questionnaire is a living document that gets updated on a regular basis (usually every two years). If you are interested in supporting us covering more aspects of ship recycling, please reach out to us.
Governance Model
1. Steering Group
Composed of 5 elected members on a 2 year basis rotation who oversee the strategic direction of the initiative.
2. Advisory Board
Composed of up to 10 members who provide expert guidance and review projects and initiatives.
3. General Group
Includes all members who participate in general meetings held at least twice a year to review progress.
Becoming a signatory
The process of becoming an SRTI signatory is simple. Interested parties must complete the sign up application and fill out the online disclosure (only for shipowners) or the signatory form (for other stakeholders) and upload their logo. Once your application is in place we will reach out directly with the remaining bits to finalize your application and to onboard your organization.
Below you can find additional information on the process in further detail for each stakeholder group. Feel free to contact us if you cannot find information about your stakeholder group or have any question about the process.
Shipowners
To become an SRTI signatory, shipowners must complete the disclosure questionnaire.
Annual fee: 6000 EUR
Financial Stakeholders
Financial stakeholders (including banks, lenders and insurance companies) only fill out the signatory form .
Annual fee: 6000 EUR
Cargo Owners
Cargo Owners only fill out the signatory form.
Annual fee: Free of Charge
Class Registers
Class Registers only fill out the signatory form.
Annual fee: 6000 EUR
Other stakeholders*
Other Stakeholders only fill out the signatory form.
Annual fee: 2500/4000 EUR**
Investors, NGOs, Academia
Academic Research Institutions, Investors and NGOs do not pay an annual fee.
Annual fee: Free of Charge
* – This includes classification societies, standards/ratings agencies, consultancies, etc.
** – The applied fee depends on the company’s size (small size or large size).
Why are we charging a fee?
With some exceptions (non-profit agencies and investors), at the Ship Recycling Transparency Initiative (SRTI), we ask members to pay an annual fee to support our mission of promoting transparency and sustainability in the ship recycling industry.
This fee enables us to maintain and enhance our comprehensive platform, which serves as a critical resource for stakeholders across the maritime sector. It funds the development of rigorous reporting standards, ensures continuous monitoring and verification of disclosed data, and supports our outreach efforts to foster greater industry-wide accountability.
Additionally, the fee enables us to organize educational events, such as webinars and workshops, which provide valuable insights and updates on best practices and emerging trends. By contributing to SRTI, members not only demonstrate their commitment to sustainable practices but also gain access to a network of like-minded industry leaders, fostering positive change and innovation in ship recycling worldwide.