Japanese shipping company NYK Line has become the 12th shipowner in the world to publicly disclose its approach to ship recycling, after joining the Ship Recycling Transparency Initiative (SRTI).
eadquartered 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 environmental transparency.
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,
…says Hitoshi Nagasawa, President and Chief Executive Officer of NYK Line.
Ship Recycling Transparency Initiative was launched by Sustainable Shipping Initiative in March 2018 as a new platform to drive responsible ship recycling, with the aim of going beyond regulation in the absence of the Hong Kong convention being entered into force, concerning the safe and environmentally sound recycling of ships. For this platform, Sustainable Shipping Initiative was nominated for the 2019 GREEN4SEA Initiative Award.
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. Shipowners like NYK are holding themselves to account before key stakeholders, making ship recycling data available for interested parties to review, scrutinize, and use to make informed decisions,
…adds Andrew Stephens, Executive Director of the Ship Recycling Transparency Initiative.
Through the platform, the shipowners are asked to disclose, signing up their policy, practice, and performance. The six areas, as presented by Mr. Stephens in the 2019 SAFETY4SEA London Forum, are:
- Ship recycling policies and practices
- Ship recycling contract
- Inventory of Hazardous Materials (IHM) and ship specific documentation
- Policy for selling off owned vessels
- Implementation of policies and practices
- Policy for recycling chartered vessels and those within JVs
The following infographic provides an overview of the SRTI Theory of Change, divided into four distinct sections:
NYK’s disclosure brings the total number of signatories to 28. The company’s disclosure can be viewed via the SRTI platform.