Wallenius Wilhelmsen wins award for pioneering SRTI work

Wallenius Wilhelmsen’s role in the foundation and development of the Ship Recycling Transparency Initiative (SRTI) has been recognised with a major new award from Finished Vehicle Logistics North America.

Wallenius Wilhelmsen partner with Ship Recycling Transparency Initiative

Wallenius Wilhelmsen’s founding role in the Ship Recycling Transparency Initiative (SRTI) – which helps cargo owners account for their supply chain sustainability by enabling them to make informed decisions about ship recycling – has been recognised with a major new award.

The inaugural Finished Vehicle Logistics North America Awards in California presented Wallenius Wilhemsen with the Customer Innovation Award for its role in the development of the SRTI, an online platform to report information on ship recycling against a set of pre-defined, comprehensive disclosure criteria developed by key industry stakeholders.

The SRTI is helping bring transparency to carriers’ vessel recycling policies and practices. The current lack of transparency coupled with an under-developed regulatory framework are what allow unscrupulous operators to take a ‘cheap and nasty’ approach that is harmful to workers’ health and the environment, and provides a cost advantage over carriers that recycle responsibly. By increasing the level of transparency in vessel recycling, the SRTI is promoting fair competition among carriers and raising overall performance in the sector.

By providing shipping companies with a platform to share important information on their approach to ship recycling, the initiative enables customers, cargo owners, investors, financial stakeholders and the public to make more informed choices about carriers with regard to vessel recycling.

Roger Strevens, Wallenius Wilhelmsen’s vice president, global sustainability, said that demanding transparency in vessel recycling was in the “enlightened self-interest of cargo owners”. “It can help ensure they are not associated with carriers that conduct vessel recycling in ways that are harmful to people and the environment,” he said. “Those doing business with carriers that recycle irresponsibly run the risk of harming their brand reputation and business interests.”

The SRTI’s success at the inaugural Finished Vehicle Logistics North America Awards shows that sustainability across the supply chain is becoming ever more important to vehicle OEMs. Given that every major vehicle manufacturer transports some finished vehicles by sea, the issue of vessel recycling is relevant for cargo owners and shipping companies alike.

Strevens said the award would help to highlight the important work of the SRTI. “We’re delighted to receive this award for the attention it helps draw to ship recycling,” he said. “The SRTI creates value for responsible carriers and cargo owners and can be a powerful tool in bringing about the end of irresponsible vessel recycling.”

He added: “Wallenius Wilhelmsen’s combined vessel fleet, has been setting industry-leading levels of performance in responsible vessel recycling for decades,” he said. “We encourage all cargo owners to join leading OEMs such as BMW and Scania as SRTI signatories.”

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