The current status quo is alarming: 90% of decommissioned ships end up in countries such as India, Bangladesh and Pakistan under problematic environmental and safety conditions, although 40% of these ships belong to European shipping companies and investors.
A promising development is the planned implementation of the global environmental and safety standards of the Hong Kong Convention from 2025. However, there is one major problem: the European Ship Recycling Regulation sets higher minimum standards than the Hong Kong Convention. This means that the European regulatory mechanisms can be circumvented by referring to international law and consequently lowering the EU’s environmental and safety standards.
A look at our vision: sustainable circular systems
European shipping companies, recycling yards and steel producers have recognized the importance of recycling. But it is not just about ship recycling, but about the entire context of the maritime value chain. By closing European recycling cycles, we have the opportunity not only to reduce the environmental impact, but also to strengthen the European industry.
This is where Multiversum steps in and supports the identification of potential in the area of supply chain optimization and the development of value-adding sustainability cycles. With the help of our network, we jointly find innovative solutions and opportunities to harness sustainable synergies. It’s time to set sail and fulfill our responsibility to future generations. If you are interested in further details on this topic or ideas for the sustainable development of our maritime industry, please do not hesitate to contact us.
Photo by Canva
