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NGO: This is how banks deal with shipbreaking

The NGO Fair Bank Guide has analyzed how Dutch banks deal with the controversial shipbreaking industry in Southeast Asia. Read on to learn the results.

Photo: IMO
BY KATRINE GRØNVALD RAUN

How do banks deal with the much-criticized conditions in the Southeast Asian shipbreaking industry when financing the carriers' ships? Eerlijke Bankwijzer (Fair Bank Guide) - backed by NGO FNV Mondiaal - has studied this matter and has now published a report containing advice for the industry in terms of shipbreaking.

According to the analysis, five out of eleven Dutch banks have financed shipping companies at least once, while the remaining banks do not invest in the sector, stating that the industry is not really sustainable.

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