The first Japanese shipping company to join the Ship Recycling Transparency Initiative

NYK became the first Japanese shipping company to join the Ship Recycling Transparency Initiative (SRTI). A platform that consists of leading shipping companies, carriers, and financial stakeholders, including investors, lenders, and suppliers of insurance.

The purpose of the instance is to promote transparency in ship recycling and provide information to interested parties, such as cargo owners, banks, investment institutions, and insurance companies, by sharing information on the SRTI website on policies, ship recycling practices, and advances of participating shipowners.

NYK highlighted that ships contain a large amount of high-quality iron and proper disposal of valuable recyclable resources is important for realizing a circular economy.

Furthermore, minimizing industrial accidents and environmental pollution when ships are dismantled have been issues that have received international attention.

NYK, from now on, will further promote the transparency of the ship recycling process through the company’s participation in the SRTI so that stakeholders can be assured that company-owned ships are recycled safely and properly.

At the same time, NYK assured that it will promote responsible ship recycling within the global shipping industry, which considers safety, the environment, and human rights to be of the utmost importance and aims to build a healthier supply chain.

Promoting transparency in ship recycling through participation in the SRTI reflects the company’s initiative to achieve NYK’s environmental management goal of reducing CO2 emissions per tonne-kilometer of transportation by 50% by 2050.

Source: Portal portuario


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