Seaspan joins Ship Recycling Transparency Initiative

Seaspan Corporation (Seaspan), a wholly-owned subsidiary of Atlas Corp, is the latest shipowner-operator to join the Ship Recycling Transparency Initiative (SRTI) and publicize its recycling policies, practices and processes.

Seaspan is the largest global containership lessor, primarily focused on long-term, fixed-rate leases with the world’s largest container shipping liners. As at March 31, 2022, Seaspan’s operating fleet consisted of 132 vessels with a total capacity of 1,147,980 TEU, and an additional 67 vessels under construction, increasing total fleet capacity to 1,959,380 TEU, on a fully delivered basis.

“Sustainable ship recycling can provide benefits to both the global environmental and local communities. But this is contingent on having strong governance and transparent recycling practices in place. Without such the industry quickly risks doing more harm than good.” said Torsten Holst Pedersen, Chief Operating Officer of Seaspan. “Seaspan looks forward to working with SRTI to promote responsible and safe ship recycling practices.”

“It is encouraging to see momentum continue to build behind the importance of transparency and accountability on sustainability issues such as ship recycling, which covers environmental, social and governance factors, during this decade of action.” said Andrew Stephens, Executive Director of the SRTI. 

“We are glad to welcome Seaspan to the SRTI community, increasing the SRTI’s profile in North America, and look forward to working together to raise awareness of the need for transparency and collaboration around responsible and safe ship recycling.”

Seaspan is one of 13 disclosing shipowners in the SRTI and joins like-minded and leading shipowners holding themselves to account before key stakeholders, including customers, investors, and the wider public. Earlier this year, the SRTI saw Volkswagen Group Logistics become a signatory to the initiative, increasing awareness of the ship recycling challenge among cargo owners.

Photo credit: iStock/ Katiekk2. Partially broken down ship in a ship breaking yard in Chittagong, Bangladesh.

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