Teekay Joins Ship Recycling Transparency Initiative

The Ship Recycling Transparency Initiative (SRTI), an open initiative supporting responsible ship recycling, has welcomed Teekay as its new member. 

Teekay, which is one of the world’s largest marine energy transportation, storage and production companies, joined A.P. Moeller-Maersk, the China Navigation Company, Wallenius Wilhelmsen and other major maritime players in promoting transparent shipbreaking.

The shipowner becomes the eighth to make public their approach to ship recycling.

“Teekay is committed to helping the ship recycling facilities that we work with elevate their skills and performance to increase safety and sustainability,” Kenneth Hvid, President and CEO, Teekay, commented.

“Our employees are on-the-ground throughout the recycling process to perform regular inspections and audits and provide training to staff and workers. We have adopted a stringent process for ship recycling that goes above and beyond the Hong Kong Convention, and by being directly involved we can ensure this standard is met when recycling our vessels,” he added.

“With proper commitment and engagement, we believe responsible ship recycling is achievable.”

Andrew Stephens, Executive Director of the Sustainable Shipping Initiative that hosts the SRTI, explained that Teekay demonstrated its “commitment to being part of the solution” by unveiling its approach to shipbreaking.

Stephens also pointed at the growing interest in more sustainable shipping practices and transparency from key stakeholders from other sectors including investors, retailers and manufacturers such as BMW and Scania.

“Shipowners show increasing responsibility for their vessels throughout their entire life cycle – starting from the shipbuilding phase, through ship operations all the way through to dismantling and the recycling of steel and other ship components.”

Teekay’s joins the SRTI as the initiative celebrates its first birthday. Just over two months after the SRTI online platform went live the first SRTI report was launched. Drawing on data collected through the SRTI online platform, the report indicates that there is a growing commitment from shipowners to transparency and the provision of data on their ship recycling policies and practices.