India’s Shipping Minister Nitin Gadkari declared that plans are underway to implement sustainable shipbreaking practices in the country. India has introduced Shipbreaking Code 2013, he pointed out.
Gadkari observed that the Hong Kong Convention will enter into force when ratified by 15 states, representing 40% of the world merchant shipping. Thus far, the legislation has only been ratified by Norway, Congo, France, Belgium, Panama and Denmark.
‘The recycling capacities of China plus Turkey plus the rest of the world is currently only 69% of the capacity required under the third condition of Hong Kong Convention. On the other hand, the combined capacities of China plus any one out of the three South Asian ship recycling countries meet the requirement of the third condition,’ points out Dr. Nikos Mikelis, Non-executive Director of cash buyer GMS.