ShippingWatch

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.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

DSV CEO on ocean freight: "Currently a flat market"

Despite significant revenue growth in its air and sea division, DSV saw "a flat market" for ocean freight in the third quarter. But CEO Jens Bjørn Andersen doesn't expect a setback in the market. "The goods must be freighted," he says.

Further reading

Related articles

Trial banner

Latest news

See all jobs