Investor PFA awaits the decision on whether Maersk's preferred scrapping yard, Shree Ram in India, will be EU-approved this time. If the yard is rejected, the pension fund wants answers as to how long the liner company will hold on to the yard.
Norwegian pension fund KLP, which owns shares in Maersk and Stolt-Nielsen, has previously rejected approval of the use of beaching facilities. But after visiting Alang in India, the investor has now softened its stance.
Maersk has out-flagged at least 15 older ships from Denmark since the summer of 2018. Four of these have wound up on the beach in Alang. Maersk has previously said it was prepared to out-flag its end-of-life ships in order to circumvent the EU's shipbreaking rules.
Norwegian pension fund KLP, which owns stock in Maersk, is to contact the shipping line for more information on the fatal accident at Indian beaching yard Shree Ram. "It's worrying," says KLP's head of responsible investments to ShippingWatch.
Two yard workers were killed Monday during the scrapping of a Greek tanker vessel which caught on fire at the Chittagong beach in Bangladesh, reports Shipbreaking Platform. It is time for the Green government to intervene, says the NGO.
European shipping companies have a special responsibility to improve conditions for the environment and workers at the much-maligned beaching yards in South Asia, says the EU's maritime affairs commissioner, Karmenu Vella.
The Shree Ram yard, which Maersk collaborates with, needs to improve further if it wants to be included on the EU list of ship recycling facilities, the Commission tells ShippingWatch. Maersk remains committed to Alang.
90 percent of the large vessels sent to be scrapped in 2018 were dismantled on beaches in India, Pakistan and Bangladesh, according to Shipbreaking Platform. The highest number on record, says the NGO.
Two tanker vessels recently sold by Nordic American Tankers have, according to Dagens Næringsliv, wound up on the Chittagong beach in Bangladesh, where vessels are scrapped using the controversial beaching method. The shipping company complies with international regulations, Chairman and CEO Herbjørg Hansson tells the newspaper.
Taiwanese container carrier Evergreen Marine does not understand why it has been blacklisted by Norway's Government Pension Fund Global (GPFG). The carrier does not find that it is responsible for how its ships have been scrapped.
The world's largest sovereign investment fund, Norway's Government Pension Fund Global, voices fierce criticism of the practice of scrapping vessels in Pakistan and Bangladesh in its explanation for blacklisting four carriers. Conditions in India were not reviewed.
The world's largest sovereign investment fund now excludes several shipping companies citing their scrapping of vessels on the beaches of Bangladesh and Pakistan. Association Danish Shipping supports the initiative.
At least five people have died after an LPG vessel caught fire during dismantling at the Gadani shipbreaking facility in Pakistan. The same region was hit by an explosion on a tanker vessel back in November in which 26 people were killed.
Norwegian shipbreaker Grieg Green plans to open a new facility to scrap vessels and offshore installations in India or Bangladesh where recycling of vessels will be performed responsibly, as in China and Turkey. Beaching will never be an acceptable method, CEO Petter Heier tells ShippingWatch.
There will always be a major risk related to shipbreaking on beaches such as Alang. Furthermore, solving these problems would be so expensive that efforts should perhaps be placed elsewhere, says one of the consultants behind a report on shipbreaking, commissioned by Maersk last year.
The statement from the Norwegian Shipowners' Association condemning beaching in Asia will not be followed by the Danish shipowners. "The picture is more nuanced than just talking geography," Director Maria Bruun Skipper tells ShippingWatch.