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World's largest investor not convinced by the Hong Kong convention

Unlike a significant portion of the shipping sector, the Council on Ethics at the world's biggest independent investor, Norway's Government Pension Fund Global, does not believe that a Hong Kong certification in and of itself is enough to approve a scrapping facility. Read on to learn why.

Photo: Louise Vogdrup-Schmidt
BY

Hong Kong convention or not?

This is a crucial question in terms of Maersk Line's decision to return to the beaches in India to scrap its end-of-life container fleet. The carrier will only use shipbreaking facilities that comply with the IMO's convention for responsible scrapping as well as a series of the company's own requirements.

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