SRTI: A new online platform to share Shipping Companies Recycling policies
LONDON (Scrap Register): An online platform, Ship Recycling Transparency Initiative (SRTI) has been launched with an aim to share better information on shipping companies’ recycling policies and practices.
Wallenius Wilhelmsen, The China Navigation Company, Hapag Lloyd, AP Moeller-Maersk, Standard Chartered Bank, Lloyd’s Register, are among the founding members of SRTI.
SRTI empowers those who invest in or buy services from shipping companies to make informed decisions on vessel recycling.
The platform is designed for the ship owners to share data on their ship recycling process across a number of disclosure criteria.
It will allow customers, cargo owners, investors, financial stakeholders, as well as the general public to obtain and use the shared information to decide on their vessel recycling practice.
With the SRTI, they can demand transparency, helping them ensure they do business with companies that recycle responsibly, rather than those who continue with practices that have horrifying human and environmental consequences.