Ships to Razor Blades – The Costs Associated With a Green Passport

Increasing calls for the responsible disposition of vessels have, inter alia, resulted in the adoption of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, in May 2009 (the “Hong Kong Convention”). This article will highlight some recent developments relating to ship recycling, including the Hong Kong Convention, and the impact of such developments in assessing the residual value of vessels.

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