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Major shipping companies and banks to shed light on scrapping

Maersk, Hapag-Lloyd, Nykredit and several other companies are now launching a new initiative in the debate surrounding the much-discussed scrapping of commercial vessels. It will help investors, says Nykredit.

Photo: Louise Vogdrup-Schmidt

A group of major shipping companies has joined forces with two financial institutions and Lloyd's Register to launch a project Wednesday aimed at making the process of scrapping vessels more transparent.

The project is named Ship Recycling Transparency Initiative, and the companies behind the project are Maersk, Hapag-Lloyd, Wallenius Wilhelmsen, CNCo, Norden, Nykredit, Standard Chartered Bank, GES and Lloyd's Register.

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