Tradewinds Ship Recycling Forum, London - 3rd & 4th March 2020

The TradeWinds ship recycling forum held in Hamburg on March 7th and 8th, 2018 was a significant event in the shipping industry. The forum brought together stakeholders from various sectors to discuss the challenges and opportunities associated with ship recycling. Best Oasis and Priya Blue sponsored the event and showed their commitment to promoting sustainable ship recycling.

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Importance of Sustainable Ship Recycling

Ship recycling is an essential component of the shipping industry as it enables the decommissioning of vessels that are no longer fit for service. However, conventional ship recycling practices in developing countries are hazardous to human health and the environment. Sustainable ship recycling practices are necessary to reduce the negative impact of ship recycling on human health and the environment.

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Global Solution to Ship Recycling Problem

Dr. Nikos Mikelis, Non-Executive Director at GMS, emphasized the need for a global solution to the ship recycling problem in his keynote speech. He highlighted the importance of working together to establish a framework for sustainable ship recycling that protects human health and the environment. The Hong Kong Convention, which sets out guidelines for safe and environmentally sound ship recycling, was also discussed.

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Role of Technology in Promoting Sustainable Ship Recycling

The forum discussed the role of technology in promoting sustainable ship recycling practices. Various innovative technologies were discussed, including the use of drones to monitor ship recycling yards, automated machinery for dismantling ships, and advanced sorting techniques for separating hazardous waste. The use of technology can improve the efficiency and safety of the ship recycling process, reducing the risks to human health and the environment.

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Financial Implications of Sustainable Ship Recycling

Speakers at the forum emphasized the significant financial benefits of sustainable ship recycling, including reduced liability for shipowners and increased demand for recycled materials. Financial institutions can promote sustainable ship recycling by offering financing solutions that incentivize responsible ship recycling practices.

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Challenges and Opportunities of Sustainable Ship Recycling in Developing Countries

The majority of ship recycling takes place in developing countries, and the lack of regulation and oversight in these countries poses significant risks to human health and the environment. The speakers discussed the need for greater collaboration between developed and developing countries to establish a framework for sustainable ship recycling that is effective and enforceable.

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Establishment of the Sustainable Shipping Initiative

One of the significant outcomes of the forum was the establishment of the Sustainable Shipping Initiative (SSI), a coalition of leading shipping companies that aims to promote sustainable ship recycling practices. The SSI will work with stakeholders across the industry to develop and implement best practices for ship recycling, including the adoption of the Hong Kong Convention.

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Conclusion

The TradeWinds ship recycling forum was a valuable event for the shipping industry, bringing together stakeholders from various sectors to discuss the challenges and opportunities associated with ship recycling. Sustainable ship recycling practices are necessary to reduce the negative impact of ship recycling on human health and the environment. The forum emphasized the need for a global solution to the ship recycling problem and highlighted the role of technology, finance, and collaboration in promoting sustainable ship recycling practices. The establishment of the Sustainable Shipping Initiative will help to drive progress in the shipping industry towards more sustainable practices.