New contract issued for the green recycling of ships
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
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