SeatradeMaritime.com: GMS and Liberian Registry is first Ready for Recycling Certificate

by Shipping Telegraph

Dubai-based GMS and the Liberian Registry have issued the world’s first International Ready for Recycling Certificate (IRRC).

The certificate shows that the vessel will be scrapped in compliance with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC) that came into for last month.

The certificate was granted to the vessel R Pisces, which will be recycled at Leela Responsible Recycling LLP in Alang, India. The IRRC verifies that the vessel meets all Convention requirements, including the Inventory of Hazardous Materials, Ship Recycling Plan, and selection of an authorised recycling facility.

“This first IRRC issued under the Hong Kong Convention is a significant step forward for ship recycling,” said Faidon Panagiotopoulos, Senior Trader of GMS, the world’s largest buyer of ships for recycling. “It demonstrates that regulatory compliance and responsible asset disposal are achievable through preparation, technical knowledge, and cooperation between all parties involved,” he added.

“This achievement represents a benchmark for how the future of ship recycling should be approached,” commented Vishaal Raj Soni, CEO of Leela Group of Ship Recycling Yards.

The IRRC serves as a crucial component of the Convention, confirming a vessel’s readiness for recycling under approved conditions.

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The Hong Kong Convention, which currently includes 24 parties representing 57.15% of global shipping tonnage, establishes comprehensive requirements for ship recycling with a focus on safety, environmental protection, and transparency.

Major flag states such as Liberia, Japan, the Marshall Islands, and Panama have joined, along with key recycling nations including Bangladesh, India, Pakistan, and Turkey.

Under the Convention’s regulations, vessels bound for recycling must maintain an Inventory of Hazardous Materials, while recycling facilities are required to provide specific Ship Recycling Plans for each vessel. The Convention notably does not prohibit the practice of “beaching” – the dismantling of end-of-life vessels on tidal mudflats.