The Sustainable Shipping Initiative (SSI) has issued a call for the International Maritime Organization (IMO) to facilitate a resolution to the ongoing governance dispute between the Hong Kong Convention and the Basel Convention. This conflict has, since 2011, impeded crucial investments in environmentally sound ship recycling facilities, a practice the SSI argues is no longer justifiable based on available evidence.
This appeal comes ahead of the Basel Convention's Open-Ended Working Group (OEWG-15) meeting in Geneva, scheduled for June 23-26. The SSI is pressing negotiators to prioritize finding a solution to this regulatory deadlock.
For freight forwarders and shippers, the lack of clarity and unified standards in ship recycling can create uncertainty regarding the end-of-life management of vessels, potentially impacting chartering decisions or long-term fleet planning for BCOs. A resolution could lead to more standardized and transparent recycling practices, potentially influencing vessel operating costs and the availability of newer, more compliant tonnage in the future.
