PHP Shipbreaking and Recycling Industries has become the first Bangladesh scrapper to win a statement of compliance under the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships.
Director Zahirul Islam says PHP spent about $4m on improving its site to comply with the convention, which required the yard to install an impermeable concrete floor, reports TradeWinds.
Islam says he hopes shipowners will now support PHP's investment in meeting environmental and safety standards by reducing demolition prices.
“We hope responsible shipowners will sell their vessels to us and give us financial incentives so that we can recover the $4m we have invested to meet the requirements of the Hong Kong Convention,” Islam said.
The statement of compliance was issued by Italian Classification Society Rina.
PHP is recognised as one of the most progressive yards in the Chittagong-based shipbreaking industry, which is lagging behind rivals in India in upgrading facilities.
PHP’s efforts were recognised by International Maritime Organization secretary-general Kitack Lim when he visited the yard in September.
Lim told TradeWinds: "I was encouraged to see clear signs of positive change in environmental and safety aspects at the facility.
"There are still many challenges ahead but, despite that, I think there is definitely the potential for further improvement.
"Indeed, I hope that all recycling facilities in Bangladesh can follow this example and that standards can be raised nationally. I am optimistic that they can."