BIMCO issues RECYCLECON
In support of increased international efforts to improve recycling standards, BIMCO has developed a standard contract for the sale of vessels for green recycling, code named RECYCLECON.
In the interim period before the Hong Kong Convention on Ship Recycling comes into force, a small but growing number of shipowners are taking the “green” route when disposing of their older vessels. RECYCLECON is designed to assist those shipowners in recycling their ships in a safe and environmentally responsible manner. The contract provides shipowners and recycling yards with a commercial solution that mirrors many of the features of the Hong Kong Convention. As such it provides a useful contractual tool for owners and recycling yards and a helpful stepping stone towards the greener measures and procedures that the Convention is expected to bring to the ship recycling process.
For more information, click here.
Source: BIMCO