SPECIALIST shipping provider Teekay has moved to boost its credentials in the recycling sector, signing up to the Ship Recycling Transparency Initiative.

SRTI is a platform that provides the knowledge and information to enable better decisions to be made about recycling and president/chief executive Kenneth Hvid said the company was optimistic about the concept.

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

Teekay joins A.P. Moeller-Maersk, the China Navigation Company, Wallenius Wilhelmsen and other major maritime players in signing up to the SRTI.

The SRTI is promoted as a “one stop shop” online platform to report information on ship recycling against criteria developed jointly by industry stakeholders.

The SRTI enables cargo owners and financial stakeholders to access information on different companies’ approaches to ship recycling.

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Launched in March 2018, the SRTI seeks to accelerate a voluntary market-driven approach to responsible ship recycling and create fair competition across the shipping industry.

Sustainable Shipping Initiative hosts the SRTI and executive director Andrew Stephens said they were “delighted that Teekay is joining the SRTI community”.

“By disclosing their approach to ship recycling, Teekay demonstrates its commitment to being part of the solution,” Mr Stephens said.

Mr Hvid said Teekay was committed to helping ship recycling facilities where they worked elevate skills and performance.

“Our employees are on-the-ground throughout the recycling process to perform regular inspections and audits and provide training to staff and workers,” he said.

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