The International Maritime Organization (IMO), Bangladesh, and Liberia have announced the ratification of the Hong Kong Convention by both nations.

BIMCO believes the ratification marks the beginning of a new era for the ship recycling industry. During the two-year interim period, ahead of the entry in force, BIMCO is calling on shipowners to choose globally compliant yards for the benefit of the industry’s workers and the environment.

The ratification comes at a vital moment for the primary recycling states, such as India, Bangladesh, and Pakistan, since more than 15,000 ships are expected to be recycled over the next 10 years, according to BIMCO predictions.

In addition, BIMCO thinks that the ratification welcomes a new era for the ship recycling sector. Bangladesh and Liberia have both ratified the Hong Kong Convention, according to the International Maritime Organisation (IMO).

“14 years ago, 63 nations adopted the Hong Kong Convention. Today, Bangladesh and Liberia have paved the way for the convention to enter into force. This commitment from Bangladesh and Liberia is more than just a step in the right direction, it is a leap that will benefit the environment and workers in the ship recycling industry. The Hong Kong Convention entering into force means that a fully sustainable ship-recycling industry is possible and within reach,” stated David Loosley CEO & Secretary General of BIMCO.

BIMCO has consistently advocated for the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, or Hong Kong Convention, to enter into effect, and applauds the 20 states that have already ratified.

Bangladesh expressed its willingness to ratify the convention this year during a visit to Chattogram and Dhaka in early May by BIMCO and other organisations to examine the advantages of ratifying the agreement.

“We will continue to call on shipowners to commit to choosing globally compliant yards when their ships reach the end of their life cycle,” noted Loosley. According to BIMCO’s statement, over three and a half years, the Hong Kong Convention was created in collaboration with the International Labour Organisation (ILO) and the Basel Convention parties. It was accepted in 2009 by 63 nations and tackles topics such as safety, suitable working conditions, environmental concerns, and how to deal with dangerous products. The Hong Kong Convention has yet to be ratified by a sufficient number of states to enter into force.