Responsible Ship Recycling Policy
Safe working conditions and environmental protection are key priorities in BW Epic Kosan's operations.
BW Epic Kosan is committed to conducting business in a legal, ethical and socially responsible manner. BW Epic Kosan's business model involves operating a modern fleet, with sale or redelivery of vessels long before end-of life. Should the Company face situations where recycling of a vessel is relevant, the following standards are applicable.
Overall Approach
BW Epic Kosan supports the ratification of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (“the Hong Kong Convention”), the EU Ship Recycling Regulation (“SRR”) and the Basel (“Basel”) Convention, which bans export of hazardous waste from OECD countries to non-OECD countries.
BW Epic Kosan will act in accordance with the SRR in relation to all European flagged vessels, and the Basel and Hong Kong Conventions for all other vessels to prevent and minimise risk and potential harm to people and the environment caused by ship recycling operations.
BW Epic Kosan are proactively working to complete an Inventory of Hazardous Materials (IHM) for all vessels in our fleet within 2020.
Criteria For Recycling Of Own Vessels
In case an BW Epic Kosan-owned vessel is to be recycled, BW Epic Kosan will select a vetted recycling facility based on thorough reviews and inspections. The facility must hold a statement of compliance in accordance with the Hong Kong Convention and/or the SRR as applicable, and be able to present a statement of compliance with all applicable environmental and social regulations awarded by a competent and independent party.
In areas of environment and health & safety issues, BW Epic Kosan's standards must as a minimum comply with the Hong Kong Convention. By actively participating in the Maritime Anti-Corruption Network, BW Epic Kosan has high standards in areas of anti-corruption. BW Epic Kosan will arrange to monitor the recycling process, and BW Epic Kosan's Whistle-blower procedure provides safe access for internal and external parties to report existing or potential violations of laws and regulations, BW Epic Kosan policies and guidelines, or other serious irregularities.
Criteria For Sale Of Vessels
In cases where the proposed sale of a vessel may possibly lead to near-term scrapping, a clause must be applied to the contract specifying responsible recycling practices. The clause must specify that if the buyer wishes to recycle the vessel, this must be done at a facility in accordance with the applicable Convention.
Furthermore, the clause must specify that the buyer is required to include the same contract clause with its buyer, if the vessel is resold within 6 months from the date of purchase. BW Epic Kosan will monitor the vessel location for 6 months and reserve the right to take legal action.
The same principles apply for vessels in J/V where BW Epic Kosan's ownership is at least 50%.
BW Epic Kosan is working to have an Inventory of Hazardous Materials (IHM) for all vessels within 2020, as well as other relevant documentation to the buyer of such vessels to ensure responsible recycling and compliance with the regulations of the Hong Kong Convention.