About The SRTI

Transparency Hub

Shipowners can publicly disclose their ship recycling policies, practices and progress through the SRTI, thereby holding themselves accountable before key stakeholders -including customers, investors, governments and NGOs – and for the benefit of the wider public.

Data-Informed Decisions

We engage actors across the shipping value chain to consider their role throughout a vessel’s lifecycle. By making this information publicly available, we enable cargo owners, financial stakeholders and other stakeholders to use the data to inform their decision making and reward good practice through the market.

The Data

The SRTI is a tool that allows shipowners to share information, allowing the data to tell its own story. It is not a performance standard nor a rating exercise; neither will it rank nor assess individual shipowners’ policies and practices.

Our Vision

Our vision is of a world where ships are recycled responsibly – socially, environmentally and economically – going beyond international conventions and setting a new norm for responsible ship recycling.

Our Goal

The SRTI aims to accelerate a voluntary market-driven approach to responsible ship recycling practices through transparency; and subsequently to inform decision-making and create fair competition across the shipping industry.

We publish a Progress Report each year compiling data from the platform and highlighting stakeholder perspectives on ship recycling.

Our History

Launched in March 2018 with a mission to improve transparency across the shipping value chain, the SRTI is an open, independent initiative. The SRTI reflects a collective effort that brings together stakeholders within the shipping industry tto improve ship recycling policy, practice and performance.

The initiative was developed by the Sustainable Shipping Initiative (SSI), a UK registered charity, following work carried out on ship recycling between 2014 and 2018. SSI and a core group of members came together with a mission to accelerate a voluntary market-driven approach to responsible ship recycling practices through transparency.

Key industry stakeholders developed a set of disclosure criteria against which shipowners would report information on ship recycling, including issues such as regulatory compliance, policy for selling owned vessels for further trading, ship recycling contract, among others.

The platform launched in December 2018 with eleven founding signatories: A.P. Moller-Maersk, Forum for the Future, GES International, Hapag-Lloyd, Lloyd’s Register, NORDEN, Nykredit, Standard Chartered Bank, Stolt Tankers, Swire Shipping and Wallenius Wilhelmsen.

Governance

The SRTI is governed by a Steering Group composed of representatives from five organisations.

The Steering Group meets on a periodic basis (at least quarterly) and guides SRTI strategy, positioning and development. See the terms and rules of the Steering Group.

Signatory Annual Fees

Annual fees cover the costs associated with maintenance of the online platform as well as contribute to the ongoing operation, development and growth of the initiative.

To see the annual fee, please visit this page.

Non-profit organizations, academic and research institutions can join free of charge.