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NYK joins ship recycling transparency initiative

Photo: Leela Modernized ship recycling facility - Leela yard.png
Nippon Yusen Kaisha (NYK Line) has become the first Japanese shipping company to join the Ship Recycling Transparency Initiative (SRTI) hosted by the Sustainable Shipping Initiative (SSI).

With its participation in STRI, NYK’s ship-recycling policy aims at promoting transparency of the ship-recycling process and doing so assuring stakeholders that NYK-owned vessels are being safely and properly recycled.

SRTI was launched in 2018 with a mission to improve transparency across the shipping value chain, increase disclosure of ship recycling policies and practices, and enable and encourage cargo owners, financial stakeholders and others to make informed decisions that will in turn drive improved performance.

In 2019, the SRTI launched its first annual report compiling data on the ship recycling approaches of seven shipowners. In 2020, the number of shipowners participating in the project rose to nine companies, operating a total of 2,433 vessels.

In 2008, NYK has also established its own ship-recycling policy, incorporating the final draft of the Hong Kong Convention (Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships), to achieve earlier implementation of the convention benefits.

NYK’s decision to join STRI reflects the company’s initiative to achieve its’ environment management target under ESG improvement programme, which is to reduce CO2 emissions per ton-km of transport by 50% by 2050.

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