BIMCO in the video “Ship Recycling: Time for Change” explored critical questions as ship recycling becomes more essential in decarbonizing the sector in light of the Hong Kong Convention taking effect on 26 June 2025.
At a time when ships keep the world moving, standing at the heart of global trade where do they go once their service ends? Though a ship’s time at sea may come to an end, its journey doesn’t stop there. In fact, a new voyage begins. As the industry transitions toward decarbonization, the demand for responsible ship recycling grows.
Across the globe, communities are already repurposing ships locally, recognizing the need for recycling more than ever. Steel from ships is reborn, becoming part of people’s everyday lives.
That same steel can now be part of something new. But with this opportunity comes responsibility.
- How do we ensure worker safety?
- How do we manage harmful byproducts and protect the environment?
- How do we shift toward a culture that values doing things the right way?
Raising global standards is a small cost compared to what’s at stake. While the value of recycled steel is set by market demand, the value of human lives must be beyond measure.
As an industry, how can we ensure that ship recycling is safe, ethical, and sustainable?
Now is the time for the Hong Kong Convention to take effect, for sustainable processes to be implemented and for progress to be realized, BIMCO urges. The circular economy must be strengthened by closing the loop. A global, unified, and accessible approach to ship recycling is essential. Now is the time to transform how ships are recycled.
On 26 June 2025, the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (the Hong Kong Convention) will enter into force alongside the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and their Disposal (the Basel Convention).
The Hong Kong Convention offers significant advancement in harmonising global standards of the ship recycling industry. This includes an improved reporting system for ships destined for dismantling and an approach to address the ships’ entire lifespan as opposed to only addressing end-of-life ships via the BC’s Prior Informed Consent (PIC) Procedure.
NGO Shipbreaking Platform also drew attention on its annual 2024 report on the substandard working conditions and breaching of environmental law. According to the report, 80% of the global tonnage was dismantled under those conditions.
While the value of recycled steel is dictated by market forces, the value of human life should remain beyond measure, BIMCO highlights.
A better approach is achievable only through adherence to shared rules and a unified vision. Although progress has begun, evident in small, innovative steps yielding significant regional results, considerable work remains at the global level.
