Singapore-based liner shipping player Ocean Network Express (ONE) has established a ship recycling policy and joined the Ship Recycling Transparency Initiative (SRTI) to showcase its “commitment to responsible practices and environmental stewardship” .
According to ONE, both moves are part of its Green Strategy and align with efforts to enhance transparency, promote ethical operations, and uphold high environmental standards throughout the entire lifecycle of its vessels.
As explained, ONE’s Ship Recycling Policy requires that all of the company’s vessels be recycled only at certified and reputable recycling facilities that operate in compliance with applicable international regulations and standards.
By joining the SRTI, ONE vowed to disclose its ship recycling policies and practices, supporting the initiative’s efforts to enhance accountability and sustainability within the maritime industry by encouraging voluntary data disclosure from shipowners.
Michimasa Noda , Senior Vice President, Sustainability, commented: “The development of our Ship Recycling Policy, together with our participation in the SRTI, marks a meaningful step forward in our ‘Clean Ship Recycling’ initiative – one of the seven key pillars of ONE’s Green Strategy.
“We remain committed to fulfilling our responsibilities as a shipowner and to promoting safe, environmentally sound, and socially responsible ship recycling practices across the maritime industry.”
ONE’s decision to commit to the safe and environmentally responsible decommissioning of ships at the end of their operational life coincides with the upcoming Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC) .
Set to enter into force on June 26, 2025, the HKC stipulates that the recycling of vessels must be conducted in a manner that does not pose any unnecessary risk to human health, safety, and the environment.
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In the meantime, ONE continues to expand its owned fleet and has recently ordered eight LNG-powered 16,000 TEU boxships in South Korea, as reported by shiprokers.
The order includes four options, according to data provided by Greek shipbroker Intermodal.
The eco-friendly containership fleet will be built at HD Hyundai Heavy Industries shipyard, with the Singaporean carrier paying around $220 million per unit.