Ship Recycling Transparency Initiative Launches Online Platform

The Ship Recycling Transparency Initiative (SRTI) has launched an online platform that aims to share information regarding shipping companies’ recycling practices.

The platform will allow customers, cargo owners, investors, financial stakeholders, as well as the general public to obtain and use the shared information to decide on their vessel recycling practice, Ship Technology reports. The report also notes that lack of information has restricted the ability of investors to make informed decisions to address risks when using ships as collateral for loans or when seeking funds for shipbuilding.

Ship Technology has more details:

The online platform of Ship Recycling Transparency Initiative (SRTI) has been launched with an aim to better share information on shipping companies’ recycling policies and practices.

The platform is designed for the ship owners to share data on their ship recycling process across a number of disclosure criteria.

It will allow customers, cargo owners, investors, financial stakeholders, as well as the general public to obtain and use the shared information to decide on their vessel recycling practice.

Read the full article here.