The Cyprus Shipping Chamber welcomes the ratification of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (Hong Kong Convention) by Bangladesh.

The ratification of the Convention by Bangladesh, which is a principal ship recycling country, will help satisfy the Convention requirements for entry into force and will thus lead the way for global safe and sustainable ship recycling practices with positive effects on human health, safety and the environment.

With the Hong Kong Convention officially coming into force and recognising the progress that has been made over the past 14 years since its adoption by the IMO, the Chamber considers it imperative that the European Commission adds to the European list of approved recycling facilities, any recycling facility that meets the requirements of the Convention, thus providing a level playing field for end-of-life EU flagged ships, that are now required to be recycled in a small number of recycling facilities included in the EU List, which is not sufficient to satisfy demand and geographic spread for a global industry like shipping.