Extremely few carriers use Bimco's scrapping contract

Bimco's scrapping contract, Recyclecon, is still only being used by extremely few carriers: 16 times in 2014, however, much better than 2013 and 2012, where the contract was used only four times each year. However, Bimco believes that this is about to change.

Photo: IMO

Carriers' interest in responsible fleet scrapping is noticeable, at least judging by the number of Bimco's Recyclecon contract being used to ensure decent working conditions during the recycling process.

It has now been almost three years since Bimco, encouraged by its members, developed a standard contract that complies with the intentions of the Hong Kong Convention setting a framework for the scrapping of vessels. Bimco employed a series of industry experts to handle the practical aspects, including representatives from Stena Line and Leyal Ship Recycling Ltd in Turkey.

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