Mar. 13, 2023
Ships contain a large amount of high-quality iron, and appropriate disposal of valuable recyclable resources is important for the realization of a circular economy. Additionally, the minimization of environmental pollution and industrial accidents when ships are dismantled has been an issue receiving attention. The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, or simply the Hong Kong Convention, was adopted by the International Maritime Organization (IMO) in 2009. Classification societies, such as Japan's ClassNK, act as substitute authorities of ships' flag states by issuing statements of compliance to yards that meet the standards determined in the convention.
The NYK Group sends supervisors to yards that have been certified by classification societies to confirm that the yards also meet NYK's stricter standards. NYK conducts ship recycling at these certified yards, which currently total 30 in India, three in China, and one in Turkey. During the vessel dismantling at PHP Ship Recycling Facility, a supervisor sent from our group's ship-management company monitors the process.
NYK was the first Japanese shipping company to participate in the Ship Recycling Transparency Initiative (SRTI), an information-disclosure platform concerning the ship recycling process. NYK also became the first Japanese company to become a signatory of the UN Global Compact Sustainable Ocean Principles. In the future, the NYK Group will deepen dialogues with stakeholders through participation in initiatives concerning the environment, safety, and human rights. The NYK Group will also promote ship-recycling at yards that meet the standards of the Hong Kong Convention and NYK, and aim to realize a sustainable society and environment.
In 2021, NYK released the NYK Group ESG Story, which aims to further integrate ESG into the company's management strategy and promotes activities that contribute to the achievement of the SDGs through business activities. On March 24, 2022, NYK released the updated NYK Group ESG Story 2022 , which introduces initiatives for integrating ESG into the Group's management strategies set forth in the "NYK Group ESG Story" and provides a partial explanation of the Group's sustainable growth strategy from a long-term perspective.
Image by NYK.
NYK Group, press release