The Economics of Shipbreaking
The Hong Kong Convention
How the Hong Kong International Convention for safe and environmentally sound ship recycling, adopted in 2009, finally entered into force in June 2025, and what it requires.
The Hong Kong Convention sets global shipbreaking rules.
Adoption
Adopted by the IMO in 2009.
Entry into force
It entered into force on 26 June 2025 after enough countries, including Bangladesh and Liberia, ratified it.
India
India ratified it in 2019 and passed the Recycling of Ships Act, 2019.
Requirements
- Authorised recycling facilities.
- Hazardous materials inventories.
- Ship recycling plans.
Critics
Some NGOs say it doesn’t ban beaching.
Effects
Many Alang yards upgraded to meet standards.
An Alang yard gets a statement of compliance with the Hong Kong Convention, attracting more ship owners.
The Hong Kong Convention entered into force in 2025.
- The Hong Kong Convention was adopted in 2009.
- It entered into force in June 2025.
- India passed a ship recycling law in 2019.
- Critics say it allows beaching.
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