In support of increased international efforts to improve recycling standards, BIMCO has developed a standard contract for the sale of vessels for green recycling, code named RECYCLECON.
In the interim period before the Hong Kong Convention on Ship Recycling comes into force, a small but growing number of shipowners are taking the “green” route when disposing of their older vessels. RECYCLECON is designed to assist those shipowners in recycling their ships in a safe and environmentally responsible manner. The contract provides shipowners and recycling yards with a commercial solution that mirrors many of the features of the Hong Kong Convention. As such it provides a useful contractual tool for owners and recycling yards and a helpful stepping stone towards the greener measures and procedures that the Convention is expected to bring to the ship recycling process.
The contract is now available to users of BIMCO’s idea and a sample of the contract, accompanied by explanatory notes, can be downloaded from the BIMCO website by using below link.
Source: BIMCO. (Sourced from email@example.com). 4 April 2012