Maersk shareholder KLP has changed its view on beaching after Alang trip

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.

Norway's biggest pension fund, KLP, has changed its stance on shipping companies using yards that are not approved by the EU, which use the controversial beaching method in which ships are dismantled in the tidal zone. | Photo: ShippingWatch / Louise Vogdrup-Schmidt

A former critic of the controversial beaching method in which ships are dismantled in the tidal zone has changed its stance.

Specifically, this concerns Norway's biggest pension fund, KLP, which has in the past been highly critical of shipping companies' use of non EU-approved shipyards in places such as Alang in India for scrapping ships. After a visit to Alang in the fall, however, the company has changed its stance.

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