NYK Line has joined the Ship Recycling Transparency Initiative (SRTI), an information disclosure platform hosted by the Sustainable Shipping Initiative (SSI).

SRTI is comprised of leading shipping companies, shippers and financial stakeholders. It aims to promote transparency in ship recycling and provide information to stakeholders by sharing information on the SRTI website about participating shipowners’ recycling policies, practices, and progress.

NYK is the first Japanese shipping company to join the initiative. “Ships contain a large amount of high-quality iron, and appropriate disposal of valuable recyclable resources is important for the realisation of a circular economy,” NYK said.

By participating in the SRTI, NYK stakeholders can be assured that its vessels are being safely and properly recycled, the company said.

Moreover, NYK added that joining the initiative signals the company’s commitment to achieve its environment management targets: to reduce CO2 emissions per ton-kilometre of transport by 50 percent by 2050.