Making waves - shipping industry next in the spotlight?

Ship recycling is once again in the spotlight. Many in the shipping industry have committed to responsible ship recycling practices through the adoption of green scrapping policies. With authorities increasing action against shipowners and insurers for suspected breaches of ship recycling regulations, responsible recycling is an increasingly important topic for shipowners with end-of-life or near end-of-life vessels. In this article, we consider the recently overturned Seatrade decision, the increase in scope of the European ship recycling regulations since 31 December 2020 and contractual provisions to consider when selling an end-of-life or near end-of-life vessel.